Thursday, July 29, 2004

New Jobless Thursday

Add 345k to the New Jobless rolls, up 4k over last week:

In the week ending July 24, the advance figure for seasonally adjusted initial claims was 345,000, an increase of 4,000 from the previous week's revised figure of 341,000. The 4-week moving average was 336,250, a decrease of 1,000 from the previous week's revised average of 337,250.

Consumer spending, which drives our economy, is down for the second straight month:

The Federal Reserve reported Wednesday that the U.S. economy cooled off in June and July as consumer spending, especially on autos, slowed significantly after a big surge in early spring.
It's time for some new economic leadership in this country.  Shoot, I'd settle for any leadership at all.