New U.S. claims for jobless benefits rose last week, lifted by striking workers at Verizon Communications, according to government data that showed little sign of layoffs in response to plunging share prices. Initial claims for state unemployment benefits rose 5,000 to a seasonally adjusted 417,000, the Labor Department said on Thursday. The level suggests the job market is still having trouble gaining momentum, but it falls well short of a recession signal.
Striking Verizon [VZ 35.77 -0.70 (-1.92%) ] workers filed 8,500 claims for jobless benefits last week, after submitting 12,500 applications the previous week, which covered the period for the August nonfarm payrolls survey.
That suggests the strike, which has ended, would have a negative affect on the payrolls count to be released on Sept. 2. The department will provide a more definitive reading of the strike's impact in its monthly strike report on Friday.
So, in order to protect their messiah, the media now turns on one of its own allies in order to try to hide the fact that Obama's economic policies have done nothing to help create jobs.