Now that the election’s over, guess what? The jobless number has climbed over the vaunted 400,000 number. It came in today at 439,000 from 361,000.
That’s 104,548 in one week. Welcome to Obamaworld, Part 2.
Blame it on Sandy, if you like. The Obamabots will and there are plenty of them among economists. Zerohedge chimes in: “Finally, to all the Sandy apologists: is the logic here that: if Hurricane, then Fire everyone? Because that is what is implied. To summarize: a hurricane is good for GDP (lots of broken windows), but any actually negative news (surge in firings) is perfectly expected.”
The CPI was up .1, with up .2 when you take out those unnecessary silly things like food and energy. This means that inflation continues to rise. Another piece of data, the Empire Manufacturing Index that watches industry in the east, saw a drop of 5.22%. It was less than they expected, but still an eye catching data point.