Jobless Claims Down
Of course, because everybody's working in the underground economy
Over eleven percent, not seven percent
Three times as many as expected in Philadelphia
The U.S. and the rest of the European Union can't say the same
But labor participation remains in the pits
63.3 percent, the lowest rate since 1979
But inflation is coming down, which is good for those who still have money
Unemployment rate at 7.9 percent
Discouraged workers skew the numbers
Rate dropping as people drop out of labor pool
News comes on the same day the chancellor of the exchequer is scheduled to release the government's 2013 budget
Last week's numbers were revised up by 2,000
Fewer people looking for jobs gives the stats a shot in the arm
Teenage unemployment rate, for example, at 25 percent, nowhere near recent lows
"Employers in several Districts cited the unknown effects of the Affordable Care Act as reasons for planned layoffs and reluctance to hire more staff"
What President Obama says in his 2013 State of the Union Address isn't as important as what he leaves out.
Declining labor participation a bad sign for the country
Stands at 197 million after 4 million increase last year