The Labor Department announced this morning that weekly jobless claims have risen to 455,000. That’s one week! Annualized, this is a rate of 23.7 million people filing for unemployment each year. That’s 15.8% of our work force – a much better gauge of unemployment in the U.S. than the Labor Department’s gimmick-riddled “official” rate of 5.7%.
Weekly Jobless Claims Rise to 455,000