Categorized | News, Opinion

February Jobless Claims Must Be Horrible

According to Reuters:

WASHINGTON, March 1 (Reuters) – White House economic adviser Larry Summers said on Monday winter blizzards were likely to distort U.S. February jobless figures, which are due to be released on Friday.

“The blizzards that affected much of the country during the last month are likely to distort the statistics. So it’s going to be very important … to look past whatever the next figures are to gauge the underlying trends,” Summers said in an interview with CNBC, according to a transcript.

Construction activity was hit particularly hard by the storms, but many restaurants and stores also had to close, putting the brakes on hiring plans and temporarily throwing some employees out of work.

Can you smell it? The BS?

Sure we had blizzards. Some people even missed a day or two. But the likelihood that anyone was out of work long enough to collect unemployment is pretty close to nil. Construction activity has been hit pretty hard by the recession. The majority of construction jobs are all Federal “make work” projects. New housing starts are way down and building permits have seen one of the biggest drops in history.

Restaurants managed to dig out, several times. Stores, too. But, seriously, Putting the brakes on hiring? That’s the problem. Hiring is going in reverse.

The only significant effect the snow had was to delay workers that are already laid off from applying for first time unemployment. The government run employment offices were closed. And non of them lost their jobs. Not one government employee was laid off and added as a statistic in February. If anything, more people are in the process of obtaining benefits and were delayed by the snow. So February is likely to be worse once the adjustments are done in a week or two.

About Tom White

Tom is a US Navy Veteran, owns an Insurance Agency and is currently an IT Manager for a Virginia Distributor. He has been published in American Thinker, currently writes for the Richmond Examiner as well as Virginia Right! Blog. Tom lives in Hanover County, Va and is involved in politics at every level and is a Recovering Republican who has finally had enough of the War on Conservatives in progress with the Leadership of the GOP on a National Level.

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Tom White Says:

Nothing is more conservative than a republican wanting to get their majority back. And nothing is more liberal than a republican WITH a majority.

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