Yet another economic indicator has turned negative on Joe Biden.
Only hours after the government reported wholesale inflation exploded to 11.3% — and that came a day after the Consumer Price Index reported 9.1% inflation – the government reported a turn upward in the number of jobless claims.
The Washington Examiner said the number of jobless claims rose by 9,000 last week to 244,000 and that’s the highest level in nearly eight months.
It is, the report said, “a sign that the labor market is starting to take a hit as the economy slows.”
The number of claims – which had exploded when government officials all across the nation ordered the economy shut down because of COVID-19 in 2020 – had reached a low point in March with 166,000.
It’s now back up by 78,000 more.
“It is becoming clearer each week that new claims are now moving on an upward trajectory, which is expected to translate into worse jobs reports coming down the line and could portend a recession,” the report said.
Rubeela Farooqi, of High Frequency Economics, told the Examiner, “Net claims rose last week to the highest level since November 2021. The underlying direction has shifted from a downtrend to one of a gradual increase.”
The report said the numbers suggest a weakness is developing, as the overall unemployment rate was 3.5%, still low by historical standards.
The bigger problem, the report pointed out, has been inflation, which has become a drain on the nation’s economy and a huge additional expense for families trying to maintain their lifestyle.
For 25 years, WND has boldly brought you the news that really matters. If you appreciate our Christian journalists and their uniquely truthful reporting and analysis, please help us by becoming a WND Insider!
If you like WND, get the news that matters most delivered directly to your inbox – for FREE!
IMPORTANT NOTE: America’s innocent young children are shockingly being subject to massive recruitment efforts by LGBT and transgender groomers in the nation’s schools. Alongside this, the rest of the deranged Biden agenda continues to unfold, from engineering an ever-growing full-scale foreign invasion of America, to destroying the nation’s fossil fuel industries while purposely creating sky-high inflation, to bringing America to the brink of nuclear war. Now, the very same political, cultural and sexual revolutionaries responsible for all of this chaos and madness have finally dared to “come out” and publicly identify exactly who they consider to be their biggest enemy: CHRISTIANS. That’s right. Bible-believing, Judeo-Christian morals-affirming Christian believers – the kind who founded America, wrote her Constitution, and defended her with their lives for centuries – are now considered the biggest enemy threatening the future of America! This almost unbelievable trend is documented in the stunning June 2022 issue of WND’s critically acclaimed Whistleblower magazine (available in both print and digital editions), titled “ELITES FINALLY REVEAL THEIR #1 ENEMY: CHRISTIANS.”
Content created by the WND News Center is available for re-publication without charge to any eligible news publisher that can provide a large audience. For licensing opportunities of our original content, please contact [email protected].
SUPPORT TRUTHFUL JOURNALISM. MAKE A DONATION TO THE NONPROFIT WND NEWS CENTER. THANK YOU!
This article was originally published by the WND News Center.