Associated Press | The number of people filing new claims for jobless benefits jumped last week after three straight declines, another sign that the pace of layoffs has not slowed.
Initial claims for jobless benefits rose by 12,000 to a seasonally adjusted 472,000, the Labor Department said Thursday. It was the highest level in a month and overshadowed a report that showed consumer prices remain essentially flat.
The rise in jobless claims highlighted concerns about the economic rebound — especially after a report earlier this week said home construction plunged in May after government tax credits expired.
Congress is causing the unemployment.
1. OBama repealed the Section 179 investment expense deduction. This credit lets small-businesses expense the first year, instead of 5 to 30 years. Then they can expand and hire new employees.
2. Increasing unemployment benefits from two months to two years forced my state to sharply increase unemployment-insurance rates; employers can’t hire new workers: it’s too expensive.
3. Why work when unemployment benefits pay as much as a job? An auto-body owner said his “best guys won’t return because they make as much on unemployment.” A private placement agency’s owner said he’d been embarrassed by applicants refusing job offers in line with their former wages because they made as much unemployed..
This two-year unemployment benefit makes a profession out of doing nothing
I’m sorry about the”***” in “embarrassed”.