Jobless Claims Hit Four-Month High
With endless unemployment checks people won’t take the jobs that are out there. Stop giving them money and they’ll get out there and work. Government is the problem, not the solution.
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For the third straight week the number of Americans filing for new unemployment benefits rose. Thursday’s increase was quite dramatic. Though economists expected new claims to fall to 350,000, claims actually rose to 385,000 — the highest number since November.
The four-week rolling average also increased to 354,250.
This news comes a day after even worse news was released about job creation. According to Reuters, “private employers added the fewest jobs in five months in March.”
Though February did bring good news from the labor market — 236,000 new private sector jobs and a dip in the unemployment rate — there was speculation that unseasonably warm weather had caused an artificial bump in February hiring, especially in the construction business.