Video: (Via Breit Bart)
Back Story via AP:
New claims for jobless benefits rose more than expected last week, exceeding even gloomy expectations for an economy stuck in a recession that seems to be deepening.The Labor Department reported Thursday that initial applications for jobless benefits in the week ending Dec. 6 rose to a seasonally adjusted 573,000 from an upwardly revised figure of 515,000 in the previous week. That was far more than the 525,000 claims Wall Street economists expected.
Elsewhere, the U.S. trade deficit rose unexpectedly in October as a spreading global recession dampened the once-strong sales of American exports and the volume of oil imports surged by a record amount, the Commerce Department said.
More layoffs were announced Thursday. New Britain, Conn.-based tool maker Stanley Works said it plans to cut 2,000 jobs and close three manufacturing facilities, while Sara Lee Corp., known for food brands such as Jimmy Dean and Hillshire Farm, said it will cut 700 jobs as the Downers Grove, Ill.-based company outsources parts of its business.
New jobless claims last week reached their highest level since November 1982, though the labor force has grown by about half since then.
I have one thing to say about this; “Welcome to my World!” I’m glad to see that the rest of America has caught up with Michigan. 😀
However, I will say this, that there are people out there who are in worse shape then me. I have people to rely on, and some of them do not. Most, if not all, have mortgages to pay, mouths to feed and so on. So, while it might be easy to be flippant and write with snark about it, the reality is that this economic downturn is going to affect many people. 🙁
While some that read this Blog, especially those over at certain forum, which I will never link to, might think that I do not appreciate the situation I am in. The truth is, that nothing could be further from the truth. It is not lost on me how fortunate that I am. Never has been. I am very blessed, I really do know this. As I have written many, many times on this Blog, if were not for my parents, I would be living under a viaduct somewhere.
I am just hoping that things do turn around, with a new President and Congress, maybe, just maybe, jobs can come back to this area. I am hoping. I really am.
Until then. I will be writing here.