Friday, May 9, 2008

U.S. Recession Over? Unemployment Claims Drop.

Initial U.S. unemployment claims drop - UPI.com

First time claims for U.S. unemployment insurance declined during the week ending May 3, the U.S. Department of Labor reported Thursday. The department said the 365,000 initial claims on the week was a decrease of 18,000 from the previous week's 383,000 initial claims.The four-week average increased by 2,500 to 364,000, the report said. The U.S. unemployment rate remained unchanged at 5 percent.

Looks like it is hard for the news media to report good economic news. They report that U.S. unemployment insurance declined during the week ending May 3rd. But thats not big news because the four week average increased and the unemployment rate remained unchanged at 5 percent.

Question, do you know who the unemployed are and which percentage are bread winners? The news media will push the idea that the 5 percent are head of house and must rely on their unemployment check to survive and can't find a job.

If I told you that almost half of the unemployed are teenagers would you believe me? It's true. Most of the unemployed are 17,18 and 19 years old and I would guess they still live with their parents. The news media and the mainstream economist wants to push the recession because they have an agenda. But the facts show we are still growing.
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1 comment:

  1. It is increasingly unlikely that we are currently in a recession:
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    The Recession of 2008 That Wasn’t?
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