Archive for jobs

GOP wrong again: Weekly jobless claims fall, budget deficit shrinks #BlameObama

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what you know, wrong

This is getting tedious, but a blog's gotta do what a blogs's gotta do. Republicans, you're wrong again. Wrongier than wrong. Wrong wrong wrong:

Via the Los Angeles Times:

The federal deficit continues to decline thanks to budget cuts and slower growth in Medicare costs, but lower than expected corporate tax revenues dimmed some of the improved outlook, according to a report Wednesday from the Congressional Budget Office.

And Benen piles on. More at the link:

This remains a basic budgetary truism that Republicans continue to resist. Indeed, last year, when top marginal rates increased on households making more than $400,000 a year, a variety of GOP lawmakers argued that this would likely cause the deficit to go up – as they saw it, higher taxes on the wealthy would slow growth, which would mean fewer jobs, which would mean fewer people paying income taxes, which would mean a larger deficit.

And we now know they were wrong – again – though this will probably do nothing to shake the Beltway perception of the GOP as the “fiscally responsible” party.

Let’s also note that the shrinking deficit – we’re seeing the fastest reduction since the end of World War II – is also one of the nation’s best-kept secrets. [...] [T]he reality is, we’re witnessing deficit reduction at a truly remarkable clip. Every conservative complaint about fiscal recklessness and irresponsibility in the Obama era is completely divorced from reality.

but wait there's more smaller

Per the most reliable news source in the whole wide world, Fox Biz, comes this upbeat news via a couple of email alerts:

The number of Americans filing for first-time unemployment benefits fell last week to 298,000 from an upwardly revised 299,000 the week prior. Economists expected claims to rise to 300,000 from an initially reported 298,000.

The Commerce Department reports the economy expanded at an annualized pace of 4.2% in the second quarter, higher than an original estimate of 4%, also beating expectations of 3.9%.

the more you know msnbc bergdahl

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Dep't. of What? Again? Weekly Jobless Claims Fall More than Expected #BlameObama

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quickie23 jobless claims

Today's jobless claims Quickie:

I know what you're saying: What? Again? Yes, again. There is more good news about jobless claims. Yes, despite Republican Congress members blocking everything blockable, we are seeing jobless claims continue to drop under President Obama's watch.

Bummer, huh?

Here it is, directly from everyone's favorite source for all things informative, the most accurate, trusted name in news, Fox! Take it away, Fox Biz! Via an email alert:

The number of Americans filing for first-time unemployment benefits fell last week to 298,000, from an upwardly revised 312,000 the week prior. Economists expected claims to fall to 300,000 from an initially reported 311,000.

More:

(Reuters) - The number of Americans filing new claims for unemployment benefits fell slightly more than expected last week, pointing to a sustained improvement in labor market conditions.

Me oh my. What's a GOP obstructionist to do?

That was today's Quickie. Was it good for you?

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Good news: Weekly jobless claims fall (again), lowest level since '06 #BlameObama

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i hate good news

I hate to be the bearer of good news (kidding), but once again, there is good news to be bearered, er, had. And how ironic that it is Fox Biz that is the actual bearer of this good news story that must be driving Republicans mad, because they hate this kind of upbeat stuff. Why? Because it comes to us under President Obama's watch.

And that is No-No Numero Uno.

Via a Fox Biz email alert:

The number of Americans filing for first-time unemployment benefits fell last week to 284,000 from an upwardly revised 303,000 the week prior. Wall Street expected claims to rise to 308,000 from an initially reported 302,000. The reading was the lowest since February 2006.

Here's more, via Reuters:

The number of Americans filing new claims for unemployment benefits fell to the lowest level in nearly 8-1/2 years last week, suggesting the labor market recovery was gaining traction. [...]

The data provided further confirmation that the labor market is tightening. Employment has grown by more than 200,000 jobs in each of the last five months, a stretch not seen since the late 1990s. [...]

The decline in continuing claims indicates some long-term unemployed Americans are finding jobs, a key metric for Fed policymakers.

Per Reuters, "the economy now appears to be firing on nearly all cylinders." Too bad the same can't be said for the Republican Party of Nyet.

Say it with me now...

blame obama Bush's fault smaller

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Upbeat economic news round-up. Yes, upbeat. #BlameObama

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Moment of Happy, upbeat

Every morning I hold my Los Angeles Times newspaper (key word: paper) in my hands and read it cover to cover. By the time I'm done, I usually need a Valium, a six-pack of wine, and some Pepto Bismol. But today's Business section actually cheered me up! I only ended up requiring an IV of wine due to the horrific front page headlines about Israel and the Malaysia crash. It wasn't too hard to resist the Pepe Le Pew-like enticement of Le Valium, and I loaned the Pepto to the neighbor down the street with the very teenagey teen. Why? Because the economic news was actually upbeat.

You read that right.

upbeat

Don't believe me? I don't blame you. Usually economic news makes us want to haul out our old GW Bush dartboards and start throwing.

blame obama Bush's fault smaller

But here's proof:

  • Stocks buoyed by strong earnings (no link to that either, but that title with the accompanying article is in my paper, honest)

Yes, things could be better. But seeing all the positive headlines was encouraging.

Of course, this is clearly some commie fascist Marxist socialist plot by President Obama, who we all know controls every news organization except Fox, which doesn't report news at all. So you'll have to read the reports and draw your own conclusions. But IMHO, this can serve as today's Moment of Happy.

I retort, you deride.

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