Unemployment Claims Rise

Bad news:

More Americans unexpectedly filed claims for jobless benefits last week…Initial jobless applications increased by 18,000 to 460,000 in the week ended April 3, Labor Department figures showed today in Washington…

…Economists forecast claims would fall to 435,000 from a previously reported 439,000 the prior week, according to the median of 47 projections in a Bloomberg News survey.

Its still “unexpected”. Because the people who forecast simply lack the knowledge base necessary to make accurate predictions. In some cases, its simply a matter of the data being impossible to find – in other cases, it is because most people have been educated up in Keynsian ideology and simply believe the asinine view that government spending can spur genuine economic growth.

Until we start making, mining and growing things, we won’t get out of this. Period.