Obamanomic miracle continues
Instapundit:
Wait, benefits programs encourage unemployment? I think that means the promise of new unemployment benefits brought discouraged workers (people who have given up the job search and so are not counted as unemployed) out of the woodwork to claim the new benefits. The question that raises, of course, is how large is the number of labor force dropouts, and what would the unemployment rate look like if they were counted as unemployed? Much higher than 8.8% we can be sure.
Byron
UNEXPECTEDLY! NEW JOBLESS CLAIMS JUMP TO 8-MONTH HIGH: “New U.S. claims for unemployment aid unexpectedly rose last week to touch their highest level in eight months, pushed up by factors ranging from spring break layoffs to the introduction of an emergency benefits program, a government report showed on Thursday.”
Or, you know, the whole recovery could basically be stalling.
Wait, benefits programs encourage unemployment? I think that means the promise of new unemployment benefits brought discouraged workers (people who have given up the job search and so are not counted as unemployed) out of the woodwork to claim the new benefits. The question that raises, of course, is how large is the number of labor force dropouts, and what would the unemployment rate look like if they were counted as unemployed? Much higher than 8.8% we can be sure.
Byron
posted by Byron | Thursday, May 05, 2011
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