Jobless Claims Jump To 26 Year High: 626,000 New Claims
While the Beltway "Bipartisan" BSers fiddle, the nation's economy is melting:
The number of U.S. workers filing new claims for unemployment benefits jumped to a 26-year high last week, according to government data on Thursday that pointed to a rapid deterioration in the economy.
. . . [I]nitial claims for state unemployment insurance benefits rose 35,000 to a seasonally adjusted 626,000 in the week ended January 31, the highest since the week ending October 30, 1982. The prior week's number was revised up to 591,000 from 588,000. . . . The four-week moving average for new claims, considered to be a better gauge of underlying trends as it irons out week-to-week volatility, rose to 582,250, the highest reading since the week ending December 4, 1982.
Time to act, NOW.
Speaking for me only
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