Jobs - Jobs - Jobs

The Labor Department said Thursday that new jobless claims rose to a seasonally adjusted 531,000 last week, from an upwardly revised 520,000 the previous week.

So add in another 250,000 to readjust for government seasonal adjustments. That puts it at 556,000 newly unemployed.

Now that sure sound sbad, but still they are have a nice spin to put on it:

The report is "slightly disappointing," Ian Shepherdson, chief U.S. economist at High Frequency Economics, wrote in a note to clients, "but it does not change the core story, which is that ... a clear downward trend in claims has emerged" over the past two months.

I guess it is slightly disappointing if you happen to be one of the folks that just lost your job. I am also sure that the official numbers released at the beginning of next month will gloss this over and make it sound nice.

Just this week Team O started their new message campaign. Unemployment is going to be at 10% or more for a very long time. This will be the new standard, and we will just have to get used to it.

Why will we have to just get used to it? Because all their new programs are going to make it worse. They know it, but do not care. They spin and spin on how we need these programs. But don't like to mention the point that it will destroy what is left of the middle class. But they are trying to get us used to the fact that we are going to be poor, and stay poor.

The number of people continuing to claim benefits dropped for the fifth straight week to 5.9 million, from just over 6 million the previous week.

While that sounds nice, it isn't. Though the FED's extended benefits, it only applies to 26 states. In all the remaining states, benefits remain the same. Once you are off the rolls, you are no longer counted as unemployed. Six months ago 750,000 people a month were filing for unemployment. I think it is safe to say not all of them live in the 26 states where benefits have been extended.

I moved to a state where benefits have been extended, from a state where they have not. Now in a rock and a hard place. According to the unemployment people, I don't even exist anymore, let alone get counted.

So I have done what many people in my situation have done, who's industry is no longer a viable source of income. I've gone back to collage. It was a joy to find that the costs of going to school have skyrocketed, each used book for each class is at least $100, and classes offered have been cut in half due to budget cuts. So choices of majors where I am have been cut back.

Counselors have no idea what is a viable occupation. The only thing they all agree on is things will remain very bad for at least the next few years.

Yes, the new normal will be high unemployment and a lower standard of living for all. That is the message from the government now. And for once, I believe them.