Unemployment Claims Rise to Highest Level Since April, Amid Record Food Stamp Usage

Unemployment claims rose last week to highest level since April, amid record food stamp usage nationwide.

Surprise, surprise.... Unemployment claims rose last week to their highest level since April. This is a sign that hiring remains weak and some companies are still cutting workers. Add the news that food stamp usage has hit a record high in the United States. This is a recipe for disaster for the Obama administration. Nothing is working for Main Street and people are still losing their homes to foreclosure.

The Labor Department said Thursday that new claims for unemployment insurance rose by 19,000 to a seasonally adjusted 479,000. Analysts had expected a small drop. Claims have risen twice in the past three weeks.

Some of the increase in claims stemmed from difficulties the government has in adjusting for seasonal factors. But the jump in claims is a cautionary sign that higher corporate profits and a slowly recovering economy aren't spurring companies to generate many jobs. "The very unyielding flow of layoffs now clearly evident discourages any thought that employers are more comfortable with the size of their staffs," Pierre Ellis, an economist at Decision Economics, wrote in a note to clients. Source

This is certainly not good news for anyone. Those who are currently working are faced with the constant worry that their job might be next to go. I never thought in my wildest imagination that America could be faced with such economic uncertainty.