New Numbers For 2010 Unemployed Will Rise By 800,000

First time unemployment claims went up again last week.  The rise is the fourth in the past five weeks. Most economists hoped that claims would resume a downward trend that was evident in the fall and early winter.  This is evidence that layoffs are continuing and jobs remain scarce.

The figures come a day before the Labor Department is scheduled to report the January employment figures, which are expected to show a tiny gain in jobs. The unemployment rate is forecast to rise to 10.1 percent.

More than 5.8 million people were receiving extended benefits in the week ended Jan. 16, the latest data available, up from about 5.6 million the previous week. The extended benefit data isn't seasonally adjusted and is volatile from week to week.

In even worse news the Department of Labor is going to announce they underestimated unemployment numbers in 2009.  They will add approximately 800,000 more to the unemployed rolls.  The unemployment rates will be pushed up even more.

Stocks tumbled Thursday after disappointing jobless claims numbers had investors worrying about the government's upcoming January jobs report.  The Dow Jones industrial average fell 200 points, and all the major indexes were down about 2 percent.

Socialists Barack Hussein Obama’s and the Democrats economic stimulus package have been a failure for America.  The stimulus package by Obama’s standards has been a success.  More than once he has told us it’s working a planned.  Obama’s plan is to have every American having to come to the government for survival.

Obama in his State of the Union said, “One year ago, I took office amid two wars, an economy rocked by severe recession, a financial system on the verge of collapse, and a government deeply in debt. Experts from across the political spectrum warned that if we did not act, we might face a second depression. So we acted – immediately and aggressively. And one year later, the worst of the storm has passed.”

The worst of the storm hasn’t passed.  Unemployment is rising.  Foreclosures on homes and commercial property are rising.  Obama’s stimulus package is a failure for America.  Now he wants to spend even more money we don’t have.  Obama is destroying America.
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