Economists Claim Permanently Losing 1/2 Million Jobs Per Week Is Proof Of Economic Recovery.

http://www.businessweek.com/news/2010-05-27/jobless-claims-in-u-s-fell-last-week-to-460-000-update2-.html
Jobless Claims in U.S. Fell Last Week to 460,000 (Update2)

More Americans than forecast filed applications for unemployment benefits last week, indicating firings persist even as the economy rebounds and employment picks up.

1/2 a million people filed for unemployment benefits last week. That is 1/2 a million more than before. These are jobs that are disappearing permanently. Never to return. And economists call this a recovery? If this is an economic recovery, then I would hate to see an economic disaster. Although based on the recent economic prognostications, economists may be incapable of recognizing a disaster as long as they are on the government dole. If you remember the definitions:
- a recession is when your neighbor is unemployed
- a depression is when you are unemployed
So it may well be that according to the great white father, as long as he is employed there will never be a depression in this country. However, the millions of people who have lost their jobs and continue to lose their jobs might disagree. The millions of people who are facing losing their homes might disagree.

Stock-index futures trimmed earlier gains following the reports. The contract on the Standard & Poor’s 500 Index rose 2.1 percent to 1,083.3 at 8:51 a.m. in New York. Treasury securities dropped, pushing the yield on the 10-year note up to 3.27 percent from 3.19 percent late yesterday.

But I shouldn't be surprised. When economists quote the stock market to prove that the economy is recovering, you know they are more clueless than the weathermen who claim that global warming has caused the latest cooling streak. Expecting economists to tell the truth is like expecting Barack Hussein Obama to stop bowing to foreign dictators. Expecting economists to tell the truth is like expecting Barack Hussein Obama to stop smiling when he listens to foreign dictators when they disparage the United States. Expecting economists to tell the truth is like expecting Barack Hussein Obama to stop apologizing for being an American.

The number of people receiving unemployment insurance and those getting extended payments declined.

Of course the number of people receiving unemployment benefits has declined. Unemployment benefits don't last forever. At some point benefits run out. When the unemployment benefits run out, the government stops caring about you. The government has so much to keep track of, that they can't be bothered to keep track of people who have been unemployed for years and have no hope of every getting hired again. Besides, it looks good for economists when people fall off the unemployment charts. If the unemployed are no longer receiving benefits, the government feels relief that they no longer need to count those unemployed as unemployed. As people age out of the unemployment system, this allows the government to claim that unemployment is down.