Your Economy (No Politics)

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Déjà vu all over again as US unemployment increases

By Ethel C. Fenig

As that other great philosopher, Groucho Marx, asked, "Who you gonna believe, me or your lying eyes?"

Sure, some of us wear glasses but given Biden's history of... uh... misstating easily provable facts i.e., his law school class ranking, and soooooo much more, etc. and etc. and etc., I'll go with my eyeglass-improved truthful eyes.

As the immortal New York Yankees catcher and prophet noted about President Joseph Biden (D) "It's déjà vu all over again" as the latest U.S. Department of Labor weekly claims for unemployment insurance report, released 8:30AM EDT today, once again proved:

SEASONALLY ADJUSTED DATA In the week ending May 25, the advance figure for seasonally adjusted initial claims was 219,000, an increase of 3,000 from the previous week's revised level. The previous week's level was revised up by 1,000 from 215,000 to 216,000. The 4-week moving average was 222,500, an increase of 2,500 from the previous week's revised average. The previous week's average was revised up by 250 from 219,750 to 220,000. The advance seasonally adjusted insured unemployment rate was 1.2 percent for the week ending May 18, unchanged from the previous week's unrevised rate. The advance number for seasonally adjusted insured unemployment during the week ending May 18 was 1,791,000, an increase of 4,000 from the previous week's revised level.

The key words in this unemployment release are "increase" and "up." Month after month.

But... but... just a few weeks ago Biden released this glowing statement:

With today’s report of 175,000 new jobs, the great American comeback continues. When I took office, I inherited an economy on the brink, with the worst economic crisis in a century. I had a plan to turn our country around and build our economy from the middle out and the bottom up. Now we are seeing that plan in action, with well over 15 million jobs created since I took office, working-age women employed at a record high rate, wages rising faster than prices, and unemployment below 4 percent for a record 27 months in a row.

While both statements are true, the former just reports all the facts while the latter selectively publicizes those facts which prove a predetermined outcome, i.e., favorable to Joseph R. Biden's agenda.

As that other great philosopher, Groucho Marx, asked, "Who you gonna believe, me or your lying eyes?"

Sure, some of us wear glasses but given Biden's history of... uh... misstating easily provable facts i.e., his law school class ranking, and soooooo much more, etc. and etc. and etc., I'll go with my eyeglass-improved truthful eyes.

What about you?

https://www.americanthinker.com/blog/2024/05/deja_vu_all_over_again_as_us_unemployment_increases.html