More people filed for their first week of unemployment benefits last week, signaling little improvement in the job market in August.
About 372,000 people filed jobless claims in the week ended August 18, up 4,000 from the previous week, the Department of Labor said Thursday.
Last week, about 3.3 million filed for their second week or more of unemployment benefits.
So those filing for unemployment are increasing and the summer hires haven't even all left the workplace yet. This is awful. So is the news Michael Fletcher (Washington Post) reports:
Household income is down sharply since the recession ended three years ago, according to a report released Thursday, providing another sign of the stubborn weakness of the economic recovery.
From June 2009 to June 2012, inflation-adjusted median household income fell 4.8 percent, to $50,964, according to a report by Sentier Research, a firm headed by two former Census Bureau officials.
Unemployment increasing, household income decreasing. These are the worst four years in memory. And it's a damn shame Barack couldn't put down his golf clubs long enough to address these issues.
This is C.I.'s "Iraq snapshot" for Thursday: