Jobless claims raise doubts about economy – Yahoo! Finance.
There’s that word again- “unexpectedly”! What, exactly, was “expected”? That the most anti-growth administration in U.S. history would promote policies that would increase employment? It’s simple- firms won’t add employees in a regulatory environment that is both a) hostile and burdensome to business, and b) uncertain as to future patterns of taxation and expense. Why would any company add workers when they know each body they hire requires more expense and more red tape than the additional labor would justify? The unluckiest people in the job market today are teenagers and other young people who have limited experience or marketable skills. The brilliance of Congress raising the minimum wage during a recession has been evidently lost on America’s employers. There is no way any company can justify paying $ 7.25 an hour to someone just out of high school who has never had a job before. My 17 year old twins can only make money mowing lawns and doing other odd jobs because stores and restaurants that used to offer teenagers their first jobs are hiring laid-off older workers who at least have some real-world work history. Frankly, I can’t say I blame them.
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