Recession - They keep a-using that-a word. I do not think it means what they think it means...
The number of newly laid off workers seeking unemployment benefits dropped much more than expected last week.The Labor Department reported Thursday that applications for unemployment benefits fell to 365,000, a decline of 18,000 from the previous week. Economists had been looking for a much smaller decrease of around 5,000.
But fear not folks, RecessionTM is right around the corner!
Many economists believe that a prolonged housing slump and severe credit crisis have pushed the economy into a recession. For that reason, they believe job layoffs will rise in coming months as the unemployment rate climbs higher.
Erm, but according to paragraph 2, weren't they looking for a decrease in jobless claims anyway?
Who edits this nonsense?
For the week ending April 26, 32 states and territories had a drop in initial claims while 21 had increases.The biggest increase was in Massachusetts, a rise of 5,591 that was attributed to higher layoffs in transportation, services and public administration.
Can't wait to see that in Governor Coupe Deval Patrick's press releases. TOGETHER WE CAN!!! - have the highest increase of lost jobs in the nation.
Catchy, that.
...along with their propaganda arm, the MSM, are pushing what they feel is a winning narrative come Nov. and to hell with the facts!
Recession = two or more successive quarters of negative growth... oops, sorry Dems wrong again!