Friday, November 30, 2007

Jobless Claims Spike

The good economic news just keeps coming.
The number of new people signing up for jobless benefits last week jumped sharply, suggesting that the labor market is softening as national economic activity slows.

The Labor Department reported Thursday that new applications filed for unemployment insurance rose by a seasonally adjusted 23,000 to 352,000. It was the highest level since Feb. 10.

The report surprised economists. They were forecasting claims to hold steady around 330,000.
The Republican must be losing sleep at night over these economic reports. What better for the Democratic nominee in 2008 then a little recession to give you extra votes. The Republicans have presided over economic policies that have hurt the average American while the wealthy gained an even bigger piece of the pie.

Its time to hold our elected officials of both parties accountable for the financial mess we find ourselves in as a nation. We must elect officials dedicated to the people not the corporations but that will never happen until we have public financing of all campaigns. That is the key to sane politics.

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