First time unemployment claims remain at 1.4 million for the [four week] month.


Again,  the weekly "first time claims" report is weak,  and came in at 366,000.  This will, undoubtedly,  be revised upward to a nominal 370,000.

The implication of this report?  The jobs market remains "flat."   Net net jobs are not being created. 

Understand that it was Obama's team who came up with this fantasy phrase, ". . . . a jobless recovery."  And,  to think,  there were reasonable people who believed that nonsense.  

With this most recent report,  we now know that the needle will be not be moving away from the  "8.3%" registered for the month of July.  No incumbent president has been re-elected when unemployment  is/was  7.2 percent or higher.  

Understand that this "366,000" weekly report means that 1.4 million Americans lost their job during the past 4-week month.  Let that sink in . . . . 1.4 million folks losing their jobs in a single month.  Keep that in mind the next time you hear Obama brag about "creating 4.4 million in 27 months," a number he uses without reference to the "net net" reality.   

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