Last week Herman Cain showed the folly of Department of Labor claims that layoffs were weighing less on the job market and economic growth because 2,000 less were seeking unemployment benefits (that’s 2,000 less out of 326,000).
You can hear that segment here.
This week the Department of Labor says the number seeking unemployment benefits has gone up 1,000 and that that is consistent with “job gains.”
“It kicked up 1,000, and that says something about steady job gains?”
“Look folks–statistically, that’s not a change at all. They’re just trying to put a pretty face on a lousy job picture.”