Media Shocked to See "Unexpected" Rise in Jobless Rate

The disaster continues…

And, the Obama-media continues to be shocked with the rise in the jobless rate.

Initial claims for unemployment benefits rose last week for the second time in three weeks, a sign that layoffs are rising.

The Labor Department says new claims for jobless benefits jumped by 13,000 to a seasonally adjusted 472,000. Analysts expected a small drop, according to a survey by Thomson Reuters.

Greater layoffs by construction firms contributed to the increase, a Labor Department analyst said. Home sales slumped last month after the expiration of a popular homebuyer tax credit. Summer layoffs in many school districts also added to the total.

The number of people continuing to claim benefits rose by 43,000 to 4.6 million, the department said. But the number of people collecting extended benefits fell by 376,000, as lawmakers have refused to continue the extra aid.

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Jim Hoft is the founder and editor of The Gateway Pundit, one of the top conservative news outlets in America. Jim was awarded the Reed Irvine Accuracy in Media Award in 2013 and is the proud recipient of the Breitbart Award for Excellence in Online Journalism from the Americans for Prosperity Foundation in May 2016. In 2023, The Gateway Pundit received the Most Trusted Print Media Award at the American Liberty Awards.

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