For a business network, CNBC sure doesn’t seem to know much about business. If they didn’t this economy wouldn’t keep sneaking up on them.
On the economic front, new claims for unemployment benefits posted a surprise gain last week, according to the Labor Department. Initial claims for state unemployment benefits rose 9,000 to a seasonally adjusted 429,000, up from prior week’s figure of 420,000.
Economists expected claims to edge up to 415,000 from a previously reported count of 414,000, according to a survey from Reuters.
This administration is attacking private enterprise every way it can. Anyone surprised by the results at this point, just isn’t paying attention.