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Friday, February 26, 2010

While Obama And Dems Focus On Obamacare, Joblessness Rises More Than Expected

While Barack Obama and congressional Democrats spend their time focusing on Obamacare, to which the majority of Americans are opposed to, joblessness rose more than projected.

Via Wapo's Economy Watch:

Unemployment claims filed last week rose unexpectedly, coming in at 496,000, up 22,000 from the previous week.

Taken with other discouraging news released this week -- record-low January new home sales and a slide in consumer confidence -- the new jobless claims number describes a slow and uncertain recovery.

Forecasters had expected 460,000 new jobless claims to be filed last week

The four-week moving average of new jobless claims -- which smooths out volatility in the week-to-week numbers -- rose 6,000 to 473,750.

Perhaps Democrats should turn their attention towards our unemployment rate and stop trying to jam unpopular legislation through the House and Senate.

Just a thought.

H/T Top of the Ticket.