The U.S. Department of Labor reported that first time state unemployment claims jumped by 10,000, to 418,000.  The numbers are for the week ending July 16.

The previous week’s drop in first time claims is due to the shortened work week (July 4 holiday).  That means it’s very likely that the first week of July could have seen an increase in unemployment as well.

Once again, many “expert” employment annalists did not expect such a large increase in unemployment claims, for the week ending July 16.

The latest weekly first time unemployment claims numbers, continues a trend, now 15 weeks on.  15 weeks in a row that first time unemployment claims is above 400,000.

The current official unemployment rate is 9.2%.  If our government was using the same unemployment rating system that was used during the time Bill Clinton was President, then official unemployment would be at 20%!