Ahead of today’s bad numbers for first-time unemployment insurance claims, President Obama reminded us in Wisconsin of how indispensable he and his stimulus package really are:
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There is good news and bad news on the economic front: For the fifth month in a row, California added jobs, yet the state still has one of the top three highest unemployment rates in the nation, trailing Michigan and Nevada, according to Beacon Economics.
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Tony Harnden, of the Telegraph suggested on Saturday that President Obama has lost the left and that, "suddenly it's cool to bash Barack".
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Analysts had expected 540,000 new jobs, but cautioned that temporary U.S. Census jobs would account for 425,000 of those. In other words, the expectation was for roughly 115,000 “real” jobs.
Unfortunately, it didn’t happen that way. In fact, on net, we gained just 20,000 non-Census jobs in May.
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From The Hill, on last night’s Charlie Rose appearance by VP Joe Biden:
The Obama administration’s signature stimulus program has been an “absolute success” so far, Vice President Joe Biden said Wednesday.
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In March, California tied Rhode Island for third highest unemployment, at 12.6 percent. According to the L.A. Times, "the Employment Development Department estimates that about 100,000 Californians will have exhausted their benefits by this weekend," each after spending as many as 99 weeks on the dole.
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Democrats were giddy about the most recent unemployment numbers, arguing that the they show the economy is starting to turn around.
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Those new unemployment numbers out this week are being widely reported as positive signs, but there's much more to the story behind the data, according to Diana Furchtgott-Roth, director of the Hudson Institute's Center for Employment Policy:
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CBS News -- Obama's Approval Rating Hits New Low
The new CBS News poll shows that the passage of the health care bill continues to add to Democrats’ political vulnerability.
CBS now has Obama at a 44 percent job approval rating – a 5-point drop in three weeks. Obama scored a 34 percent approval rating for his handling of health care.
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