Rising Unemployment: Obama Blames it on the Weather
by Jeff Davis

The Obama White House and the Democrat Party have been twisting, turning and doing flips like an organ-grinder’s monkey in order to explain the continuing rise in American unemployment. Their latest excuse for the Obama Depression is: Blame it on the weather.
An article from CNN Money.com reports: “The number of Americans filing for initial unemployment insurance surged to just below the 500,000 level last week, and have climbed more than 12% over the past two weeks, the government said Thursday. There were 496,000 initial job claims filed in the week ended Feb. 20, up 22,000 from a revised 474,000 the previous week, the Labor Department said in a weekly report. The prior week, there were 442,000 claims filed. ‘This is certainly not surprising given the very adverse weather conditions for the eastern half of the country, especially in the major population areas,’ said Robert Dye, a senior economist at PNC Financial Services. ‘Weather has a huge impact, particularly with things like construction, which remains very soft. Over the past few weeks, the Northeast, particularly the Washington area, has been hit with snow storms, putting people out of work and resulting in a backlog of claims that the Labor Department wasn’t able to process until this week.’ ”
Didn’t the construction industry pretty much get devastated at the start of this financial crisis? Construction always is the first casualty. No one wants to build new houses if they can’t sell them at a substantial profit. Right now, there are about 19 million homes that have been foreclosed and are glutting the market. So how could the snow be affecting non-existent construction in the east?
The snow in the east does not explain rising unemployment in places like California, Texas and Florida. A new excuse will have to be invented for those states. (more…)







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