Thursday, April 14, 2011

Jobless Claims and Inflation Jump

 Some bad news for the economy. As the President is touting the great economic recovery of his Administration, the facts seem to play a different story. According to new numbers released today, it appears that more Americans are out of work and rising gas prices are hurting the inflation rate.

So it's bad news:

Initial claims for state unemployment benefits rose 27,000 to a seasonally adjusted 412,000, the Labor Department said.

Plus you have the specter of gas prices:

Energy prices, which rose 2.6 percent, accounted for nearly 90 percent of the increase in wholesale prices last month.
Energy prices rose 3.3 percent in February.
Gasoline prices rose 5.7 percent after increasing 3.7 percent in February. Food prices fell 0.2 percent, the first decline since August.

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