Initial Jobless Claims Worse Than Expected


The partial government shutdown is over and the Obama economy still sucks. Initial jobless claims came in at 358,000, which is 23,000 higher than economists forecast. I guess California still isn’t finished working through their computer glitch backlog.

Moments ago the DOL, announced that in the week ending October 12, there were some 358K initial claims filed, a drop from last week’s ridiculous 374K, but well above expectations of 335K. Of course, expectations no longer matter because as the DOL was also kind enough to observe, the agency, for the 6th consecutive week, is unable to conclude the California computer upgrade backlog, and is still working through it, although we now know that in the last week there was an increase of 33,654 claims which reflects a “backlog of claims which could not be processed previously.” This farce continues.

Well, something tells me California will work through its computer glitches long before Obamacare does.