Unexpected! 'Surprise' Surge in Jobless Claims

Apparently the only people surprised by this unexpected rise in jobless claims are the idiots who write this garbage.

New claims for unemployment benefits unexpectedly rose last week, government data showed on Thursday, underscoring a weak labor market and the fragile economic recovery.

Initial claims for state unemployment benefits rose 19,000 to a seasonally adjusted 479,000 in the week ended July 31, the Labor Department said. That was the highest level in claims since early April.

Analysts polled by Reuters had forecast claims dipping to 455,000 from the previously reported 457,000 the prior week, which was revised modestly up to 460,000 in Thursday's report.

"The bottom line is that any recovery in employment is going to be very slow. It's likely that we're still at 9.5 percent unemployment or awfully close to it by the end of the year," said Scott Wren, senior equity strategist at Wells Fargo Advisors in St. Louis.

Of course if you point the finger at the current occupant of the White House then you're a racist or something. Nothing's his fauly, after all, even the record number of people collecting food stamps.

meanwhile, it appears he plans on letting deadbeats get away with billions in defaulted mortgages.

Change, baby!