Jobless Claims Up

Economists watch the weekly reports of initial jobless claims for the first indication of possible new trends in the American economy.  The latest two reports suggest that a possible new trend could be negative.  On Thursday, the Department of Labor reported that, for the second week in a row, jobless claims rose. Specifically, for the week ending December 14, unemployment claims, on a seasonally adjusted basis, were 379,000.  This is the highest number since the week that ended March 30. The following graph shows the seasonally adjusted jobless claims since March 9: For almost all of 2013, there was a trend downward in jobless claims.  In fact, week after week, jobless claims have been lower than the equivalent week one year earlier.  But that changed in December.  Both of this month's weeks were higher than the equivalent week one year ago. So why are jobless claims rising?  The most likely culprit is ObamaCare.  According to...(Read Full Post)