THE BIDEN EFFECT: Jobless Claims Jump To 744,000 – Worse Than Expected

The post THE BIDEN EFFECT: Jobless Claims Jump To 744,000 – Worse Than Expected appeared first on American Lookout.

The American economy is still struggling to recover, despite the best efforts of the Biden administration.

We are now learning that jobless claims have jumped by almost 750,000.

Then again, what should we expect from a man who killed tens of thousands of good jobs in his first act as president?

Breitbart News reports:

Jobless Claims Unexpectedly Jump to 744,000, Much Worse Than Expected

New weekly jobless claims rose to 744,000 for the week that ended April 3rd, the Department of Labor said Thursday.

Economists had forecast a decline to 680,000 from the previous week’s 719,000. This is the second consecutive week in which initial jobless claims moved up in contradiction to expectations. The upper end of the range of forecasts in the Econoday survey was 705,000.

Jobless claims can be volatile week to week so economists like to look at the four-week average. This rose by 2,500 to 723,750.

Continuing claims, which get reported with a week’s lag, fell to 3,734,000, a decrease of 16,000, in the week ended March 27.

Including new programs for gig workers and small business owners, the total number of continued weeks claimed for benefits in all programs for the week ending March 20—the most recent data available—was18,164,588, a decrease of just 50,862 from the previous week.

Who could have predicted such a thing?

And while this is happening, Biden is flooding the country with illegal immigrants.

This is all being done on purpose.

The post THE BIDEN EFFECT: Jobless Claims Jump To 744,000 – Worse Than Expected appeared first on American Lookout.

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Author: Mike LaChance


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