|Sequester Pushes Unemployment Rate Lower|
|by Tom McGregor||Fri, Mar 15, 2013, 12:14 AM|
Wall Street traders aren't the only business people praising President Barack Obama's sequester, which has forced the federal government to implement $85 billion in budget cuts. Now private employers are giving the thumbs up by going into overdrive with hiring.
According to Fox News, "the number of Americans filing new claims for unemployment benefits unexpectedly fell last week; the latest indication the labor market recovery was gaining traction."
On Thursday, the Labor Department announced that initial claims for state unemployment benefits dropped 10,000 to a seasonally adjusted 332,000, which marks the third straight week of declines.
As reported by Fox News, "the prior week's claims figure was revised to show 2,000 more applications than previously reported. Economists polled by Reuters had expected first-time applications last week to rise 350,000."
The sequester has really helped boost labor market conditions as the four-week moving average for new claims, a better measure of labor market trends, dropped 2,750 to 346,750, the lowest level in five years.
To read the entire article from Fox News, link here:
written by DEM PRES LOVER , March 15, 2013
President Bush ruined our economy, and now President Obama raised it from it's ashes!
written by Scott 0897 , March 15, 2013
All lies. Employers are posting fake jobs and unemployment applications are turned down or not processed for six months. Why Americans are deceiving ourselves
written by wade , March 15, 2013
Now it's Mr. Obama's "sequester"?
For months the man has moaned and screeched about the impending doom and now you're giving him credit for achieving something he never wanted. Geezus, you have a terminal case of obamaitis.
written by guest , March 15, 2013
This is an absurd article. Labor market conditions do not respond on a dime to something like the sequester. This timing is simply a coincidence.
written by marper , March 15, 2013
President Obamas Sequester??? He went kicking and screaming into this even shut down tours of the whitehouse to pout and you have the nerve to try and now take credit for what conservatives have been saying for years? Really your not serious are you! This article is laughable.
written by Dr Bob , March 15, 2013
The article that you cite doesn't mention the word "sequester". How do you link the current recovery with the sequester when the government's layoffs and reduced business haven't really started yet?
written by Brett , March 15, 2013
This is hilarious. I like how you call it "his sequester" even though he publically railed the republicans for not coming up with a plan to avoid it over and over again. So can we finally thank the republicans for sticking to their guns and forcing a cut in the budget? Clearly the free market likes the idea of cutting the federal budget.
written by david , March 15, 2013
as i recall obama claimed the sequester (which was his own ideal) was going to bring the end of the world but you write "Wall Street traders aren't the only business people praising President Barack Obama's sequester"
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