Weekly jobless claims above 380K for second week

posted at 9:21 am on April 19, 2012 by Ed Morrissey

As if the Obama administration didn’t have enough problems with economic indicators, the Department of Labor gave them another headache.  The upward spike two weeks ago in initial jobless claims doesn’t look like a fluke:

In the week ending April 14, the advance figure for seasonally adjusted initial claims was 386,000, a decrease of 2,000 from the previous week’s revised figure of 388,000. The 4-week moving average was 374,750, an increase of 5,500 from the previous week’s revised average of 369,250.

The advance seasonally adjusted insured unemployment rate was 2.6 percent for the week ending April 7, unchanged from the prior week’s unrevised rate of 2.6 percent.

The advance number for seasonally adjusted insured unemployment during the week ending April 7 was 3,297,000, an increase of 26,000 from the preceding week’s revised level of 3,271,000. The 4-week moving average was 3,317,750, a decrease of 21,500 from the preceding week’s revised average of 3,339,250.

Officially, the number of initial weekly jobless claims fell last week by 2,000 — but to 386,000 claims, which is 6,000 above the level announced last week.  That number got revised this week, but the real story is in the 4-week rolling average.  Just three or four weeks ago, that number was in the 360K range.  Now it’s close to 375K, roughly the same level as last spring’s stagnant economic conditions.

Reuters headlines the drop, but reports on the disappointing results:

New U.S. claims for unemployment benefits fell less than expected last week, according to a government report on Thursday that could dampen hopes of a pick-up in job creation in April after March’s slowdown.

Initial claims for state unemployment benefits slipped 2,000 to a seasonally adjusted 386,000, the Labor Department said. The prior week’s figure was revised up to 388,000 from the previously reported 380,000.

The four-week moving average for new claims, considered a better measure of labor market trends, rose 5,500 to 374,750.

Economists polled by Reuters had forecast claims falling to 370,000 last week.

Their economists had bet that last week’s results were an outlier, which wasn’t an unreasonable assumption.  This, however, looks like an upward movement in job churn, not a good sign for overall employment.  It’s interesting that we’re seeing that now rather than last month, where jobless reports ran in the mid-360Ks but job creation got stymied at only 120,000 for the month.  If this indicator continues at the mid-380K level or starts rising above it, April’s jobs report may make March look positively cheery.


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So cue the return of <400K is "good" or some such stupidity…

Gingotts on April 19, 2012 at 9:24 AM

Dog days.

Chuck Schick on April 19, 2012 at 9:24 AM

RECOVERY SUMMER HERE WE COME!!!!!

Meat Fighter on April 19, 2012 at 9:24 AM

It is truly sad all of the American people suffering because of the incompetence and corruption of the Obama Administration.

We need to get rid of him and everyone associated with him.

NoDonkey on April 19, 2012 at 9:25 AM

As Americans continue to suffer from 8 years of disastrous economic policies, flyover country high fives itself.

PS: Where are jobs Jon Boner?

angryed on April 19, 2012 at 9:25 AM

The new normal continues… unexpectedly.

AnonymousDrivel on April 19, 2012 at 9:25 AM

Dog days.

Chuck Schick on April 19, 2012 at 9:24 AM

ROMNEY HATES DOGS!

Obama loves them so much, he eats them!

Nethicus on April 19, 2012 at 9:25 AM

Happy Wreckovery, America!

gsherin on April 19, 2012 at 9:25 AM

14 consecutive weeks in a row initial unemployment claims have been revised upwards. Talk about manipulating data for the headlines.

Wigglesworth on April 19, 2012 at 9:26 AM

14 consecutive weeks in a row initial unemployment claims have been revised upwards. Talk about manipulating data for the headlines.

Wigglesworth on April 19, 2012 at 9:26 AM

No economic data was revised 2001-2008 right?

angryed on April 19, 2012 at 9:27 AM

So, the “stimulus” was all smoke and mirrors and pay-off’s to campaign contributors all along?

Weren’t we told a few years ago by Obama, Biden, Gaithner, Reid and Pelosi, et al., and all the liberals/progressives that job growth, economic growth and new technologies and green energy jobs would take off and skyrocket us to the cosmos?

Weren’t we told of the billions and billions that would be saved by enacting Obamacare, and the private sector would then have more than ample funds to hire more and more workers?

But, Obama promised. He promised all of us.

I am trez disappointed.

Obama. Still a Putz.

coldwarrior on April 19, 2012 at 9:27 AM

Anyone else smell that?

But yeah, this is great news because it’s not 500k, or something.

Bishop on April 19, 2012 at 9:28 AM

As Americans continue to suffer from 8 years of disastrous economic policies, flyover country high fives itself.

PS: Where are jobs Jon Boner?

angryed on April 19, 2012 at 9:25 AM

Weak

Meat Fighter on April 19, 2012 at 9:28 AM

This is clearly good news. As I understand Nancy Pelosi, unemployment payments stimulate the economy; so, the more people are out of work, the healthier and more robust it is. It’s science.

AnonymousDrivel on April 19, 2012 at 9:29 AM

No economic data was revised 2001-2008 right?

angryed on April 19, 2012 at 9:27 AM

I don’t remember Bush having to make up a statistic like “saved jobs” in order to make his policies less toxic to the electorate.

As for the jobless claims, it seems to hint at the March job numbers as being a new trend and not just a temporary blip. Which would be very bad news for Obama. I guess those high gas prices are starting to take their toll.

Doughboy on April 19, 2012 at 9:30 AM

As Americans continue to suffer from 8 years of disastrous economic policies, flyover country high fives itself.
PS: Where are jobs Jon Boner?
angryed on April 19, 2012 at 9:25 AM

Your act doesn’t even make sense anymore.

Chuck Schick on April 19, 2012 at 9:31 AM

As Americans continue to suffer from 8 years of disastrous economic policies, flyover country high fives itself.

PS: Where are jobs Jon Boner?

angryed on April 19, 2012 at 9:25 AM

For the last 6 years(2006 onward) the democrats have controlled the majority of the legislative and then the executive branch with 2008-2010 being a SUPER MAJORITY.

Own it.

Meat Fighter on April 19, 2012 at 9:31 AM

This business with the revisions is completely out of control.

The headline this week is that claims fell by 2000, but after this week’s inevitable upward revision of 4000, this week’s number will the highest since January. Highest in months = “improvement” in the MSM. It’s a joke.

forest on April 19, 2012 at 9:31 AM

PS: Where are jobs Jon Boner?

angryed on April 19, 2012 at 9:25 AM

Up Obama’s arse. Have you tried to look there? Wait, don’t answer that.

Archivarix on April 19, 2012 at 9:32 AM

We need more stimulus! #@Paul Krugman

Rovin on April 19, 2012 at 9:33 AM

Their economists had bet that last week’s results were an outlier, which wasn’t an unreasonable assumption. This, however, looks like an upward movement in job churn, not a good sign for overall employment.

As I said last week, wait for next week’s numbers. The past 2 weeks are usually (and I stress usually) somewhat inflated due to the Easter break and all the school employees (mostly public) who file for 1 week of unemployment due to that.

If, like last year, we don’t see a significant improvement (by which I mean we’re under 365K), find something to hold on to because we’re in for a bumpy ride. Something tells me we’re not going to see that below 375K.

Steve Eggleston on April 19, 2012 at 9:33 AM

angryed = fake, but accurate just fake

cicerone on April 19, 2012 at 9:33 AM

unemployment will now be 8.1% on such good economic news /s

geramy2012 on April 19, 2012 at 9:33 AM

Your act doesn’t even make sense anymore.

Chuck Schick on April 19, 2012 at 9:31 AM

You said it.

taternuggets on April 19, 2012 at 9:33 AM

Your act doesn’t even make sense anymore.

Chuck Schick on April 19, 2012 at 9:31 AM

Ed’s just a housewife, give him a break.

Bishop on April 19, 2012 at 9:34 AM

angryed on April 19, 2012 at 9:25 AM

why do you hate farmers? Why do you hate the plains? Why do you even try?

upinak on April 19, 2012 at 9:36 AM

As Americans continue to suffer from 8 years of disastrous economic policies, flyover country continues to point out that their financial sensibilities (don’t buy what you can’t afford and/or touch) are still correct.
 
angryed on April 19, 2012 at 9:25 AM

 
FIFY.

rogerb on April 19, 2012 at 9:36 AM

If we had an actual press, Barry would be (figuratively of course) grapped by the throat, jacked up and forced to answer questions about what he’s doing to alleviate this misery.

Not given an opportunity to recite tired talking points on “the war on women” and other crap they let him get away with.

I blame them as much as him, or for him. They let him get away with incompetence and mediocrity simply because he’s a Democrat.

Disgusting.

NoDonkey on April 19, 2012 at 9:37 AM

PS: Where are jobs Jon Boner?

angryed on April 19, 2012 at 9:25 AM

Three JOB’s BILLs passed in the House with bi-partisan support are setting on Harry’s desk pal. You’re asking the wrong person, again, as usual.

Rovin on April 19, 2012 at 9:37 AM

Can’t you just feel all that activity surging through the economy?

Right, no one else can either. It doesn’t matter how much the BLS makes revisions, everyone out here knows that the economy sucks.

President Lame Duck knows he’s toast.

Nemesis of Jihad on April 19, 2012 at 9:39 AM

These people who lost their jobs are lucky–now they won’t have the option of raising entitled children with the best of everything.

As our Dear Leader just reminded us, people like Sasha and Malia Obama Mitt Romney who are born with a “silver spoon” in their mouth” are unfit to lead this country.

Out of today’s eighy-eight million unemployed will come the leaders of tomorrow. Every month of the Obama economy gives us fewer children with the horrible handicap of a comfortable lifestyle.

Obama Biden 2012: Winning The Future!

Too bad the uber-privileged Obama daughters can’t be among those leaders of tomorrow, but the many free vacations, tony private school, and rent-free mansion should be some consolation to Barry for ruining his daughters’ lives in the same way George Romney ruined that of his sons.

MidniteRambler on April 19, 2012 at 9:39 AM

As Americans continue to suffer from 8 years of disastrous economic policies, flyover country high fives itself.

PS: Where are jobs Jon Boner?

angryed on April 19, 2012 at 9:25 AM

Can someone find us a real troll, this one is all used up.

Skwor on April 19, 2012 at 9:39 AM

Ed’s just a housewife, give him a break.

Bishop on April 19, 2012 at 9:34 AM

Lol..thought he was here networking, making friends and influencing people? He’s really become a sad, pathetic joke. At least libtard4life was entertaining in her stupidity.

HumpBot Salvation on April 19, 2012 at 9:39 AM

What the true travesty is the way we measure this. All those people who simply have dropped out of the system don’t get counted in the numbers (the U-6 number for Mar is 14.5). Which for Obama is a good thing since if the public was paying attention to the real numbers, it would be really ugly for this administration who only offers gimmicks and slogans.

I’m sick of Obama paying no attention to the things that matter as he goes around touting one scheme after another designed to steal from one class to feather the nest of his cronies.

I’m tired of his grifter wife, an angry black woman, who is addicted to vacations at taxpayer expense. She is completely oblivious to the challenges faced by real Americans. When was the last time she filled a gas tank or went grocery shopping? She pushes the myth of food deserts which is really nothing more than an excuse for greater government intervention in urban areas.

I’m tired of corruption in government be it the GSA, Secret Service, or the SecDef who is actually defending the nearly $1M he has racked up because his wife won’t come to DC full-time.

And I’m tired of the gridlock in Congress. The House passes budget after budget to have them die in the Senate by Democrats who refuses to do their legal responsibilities under the Congressional Budget Act.

I truly fear for our country and the future generations.

Happy Nomad on April 19, 2012 at 9:40 AM

Jobless claims have been revised upwards every week this year.

See here.

In other words, after next week’s revision, this won’t be a “dip” either.

Chris of Rights on April 19, 2012 at 9:40 AM

How’s Fiona doing? Employed, unemployed, underemployed?

Fallon on April 19, 2012 at 9:41 AM

Ed’s just a housewife, give him a break.

Bishop on April 19, 2012 at 9:34 AM

So he’s never worked a day in his life?

Happy Nomad on April 19, 2012 at 9:41 AM

unemployment will now be 8.1% on such good economic news /s

geramy2012 on April 19, 2012 at 9:33 AM

You wish that was sarcasm… But no, it will be 7.9, because Obama needs a lower unemployment rate to get reelected, and god knows the Fifth Column Treasonous Media isn’t about to tell the truth.

SWalker on April 19, 2012 at 9:41 AM

But was it unexpected?

Shump on April 19, 2012 at 9:41 AM

If only we could’ve had a couple of years with a (D) president and a majority (D) Congress capable of forcing through any corrective legislation they wanted.

rogerb on April 19, 2012 at 9:42 AM

You wish that was sarcasm… But no, it will be 7.9, because Obama needs a lower unemployment rate to get reelected, and god knows the Fifth Column Treasonous Media isn’t about to tell the truth.

SWalker on April 19, 2012 at 9:41 AM

The truth will come out – after election day.

The media’s boyfriend won’t have any more elections to campaign for.

NoDonkey on April 19, 2012 at 9:43 AM

How’s Fiona doing? Employed, unemployed, underemployed?

Fallon on April 19, 2012 at 9:41 AM

By the last rumor, she has moved to Columbia.

Archivarix on April 19, 2012 at 9:43 AM

President Lame Duck knows he’s toast.

Nemesis of Jihad on April 19, 2012 at 9:39 AM

Is that a raaaaacist DOG whistle? Is it supper time for Obama???

SWalker on April 19, 2012 at 9:44 AM

BTW- did anyone see the party breakdown of the CBS/NYT poll that has Obama and Romney tied? It was D +8. that’s crackpipe level delusion

WOOF!

Chuck Schick on April 19, 2012 at 9:46 AM

“”We are moving toward the Greek-type numbers. My guess is at the Democratic convention, [Obama] will not be appearing in front of columns like in Denver. He won’t want to remind people of Greece,” Romney said. ” – National Journal

Styrofoam manufacturers hardest hit.

NoDonkey on April 19, 2012 at 9:46 AM

Any more bad news and President Lame Duck will look more like Fred G. Sanford than a tight creased politician. The “G” stands for gas prices.

Nemesis of Jihad on April 19, 2012 at 9:46 AM

Obama 2012: A Dog in Every Pot!

Uncledave on April 19, 2012 at 9:46 AM

“They talk about me like a dog.” – Barack Obama

No, like a dog’s breakfast.

NoDonkey on April 19, 2012 at 9:48 AM

It’s all about the headlines. You wan things to look good even as they’re heading in the wrong direction? Put out a bogus number each week, then revise it above next week’s bogus number and claim a reduction in claims.

One step forward, two steps back. Pretty soon, our backs will be up against the wall.

BKeyser on April 19, 2012 at 9:49 AM

I’m tired of his grifter wife, an angry black woman, who is addicted to vacations at taxpayer expense. She is completely oblivious to the challenges faced by real Americans. When was the last time she filled a gas tank or went grocery shopping? She pushes the myth of food deserts which is really nothing more than an excuse for greater government intervention in urban areas.

Happy Nomad on April 19, 2012 at 9:40 AM

she was seen shopping at Target awhile back you racist thing you. she’s just like you and me. why don’t you put down those fattening Twinkies and grab some

A) DOG. (TOUGH)
B) SNAKE (TOUGHER)
C) ROASTED GRASSHOPERS (CRISPY)

TOUGH, TOUGHER, AND CRISPY!

GhoulAid on April 19, 2012 at 9:50 AM

In the last 10 minutes, they “readjusted” last week’s numbers from 380,000 up to 388,000 to make it look like there was a drop this week.

How do they continuously get away with this??? I have the screen prints to prove it.

stenwin77 on April 19, 2012 at 9:50 AM

As Americans continue to suffer from 8 years of disastrous economic policies, flyover country high fives itself.

PS: Where are jobs Jon Boner?

angryed on April 19, 2012 at 9:25 AM

Are you talking about the 8 years we averaged 5% unemployment? Those were horrible times….

Wagthatdog on April 19, 2012 at 9:51 AM

“They talk about me like a dog.” – Barack Obama

No, like a dog’s breakfast.

NoDonkey on April 19, 2012 at 9:48 AM

No, now were talking about you as the dog eater… News Flash, it wasn’t the 9 year old Barry Soetoro who arrogantly wrote in his autobiography about eating a dog, it was the 47 year old Barack Obama who did that.

SWalker on April 19, 2012 at 9:51 AM

You wish that was sarcasm… But no, it will be 7.9, because Obama needs a lower unemployment rate to get reelected, and god knows the Fifth Column Treasonous Media isn’t about to tell the truth.

They have to do it a little at a time or it will look like they are cooking the books to everyone, and not just those of us who are paying attention!

geramy2012 on April 19, 2012 at 9:52 AM

Bye Obama

Conservative4ev on April 19, 2012 at 9:52 AM

Right, no one else can either. It doesn’t matter how much the BLS makes revisions, everyone out here knows that the economy sucks.

Nemesis of Jihad on April 19, 2012 at 9:39 AM

Not so! Obama’s speeches all make the claim that the economy is going gangbusters! He wouldn’t make that statement if it were not true!!!! :0

Seriously, Obama and administration officials really are out there making the claim that things are improving. They do victory laps when the reported unemployment rate dips down one tenth of one percent. Then the numbers get quietly revised up the very next week.

I think this is Obama’s achilles heel. He is out there making the claim that the economy is “improving” but ordinary Americans aren’t seeing it. We all know people who are unemployed, underemployed, or in fear of losing their jobs. We all know people who are underwater on their house. We all know the economy sucks. Which is why I get so mad when Obama stands up and tells us what a damned good job he is doing.

Happy Nomad on April 19, 2012 at 9:53 AM

So, once it gets bumped up next week, the number will be right near 400,000.

But who needs to talk about the economy, Republicans are waging a war on women, and Romney drove his dog on top of his car 18 years ago.

Maybe Obama should focus on the economy instead of doing nothing but campaigning. That will help him get re-elected more than deflecting the attention to non-sensical issues (and will make angryed very happy in the process).

milcus on April 19, 2012 at 9:54 AM

She pushes the myth of food deserts which is really nothing more than an excuse for greater government intervention in urban areas.

This is merely a scheme to redistribute shopping carts to the homeless.

Perhaps Marion Barry can fill the First Lady in on why “urban” areas don’t have supermarkets . . .

“We got to do something about these Asians coming in and opening up businesses and dirty shops,” Barry said on Tuesday night, according to video posted by WRC-TV/NBC4. “They ought to go. I’m going to say that right now. But we need African-American businesspeople to be able to take their places, too.”

Read more: http://www.politico.com/news/stories/0412/74866.html#ixzz1sUiL12LZ

NoDonkey on April 19, 2012 at 9:54 AM

Weak

Meat Fighter on April 19, 2012 at 9:28 AM

Doughboy on April 19, 2012 at 9:30 AM

cicerone on April 19, 2012 at 9:33 AM

Bishop on April 19, 2012 at 9:34 AM

upinak on April 19, 2012 at 9:36 AM

rogerb on April 19, 2012 at 9:36 AM

Rovin on April 19, 2012 at 9:37 AM

Skwor on April 19, 2012 at 9:39 AM

Happy Nomad on April 19, 2012 at 9:41 AM

…This moby misfit is nucking futs…it’s time to just let it talk to itself don’t you think?

KOOLAID2 on April 19, 2012 at 9:55 AM

As Americans continue to suffer from 8 years of disastrous economic policies, flyover country high fives itself.
PS: Where are jobs Jon Boner?
angryed on April 19, 2012 at 9:25 AM

Your act doesn’t even make sense anymore.
Chuck Schick on April 19, 2012 at 9:31 AM

Our longtime resident concern trolls are letting their guard down and have exposed themselves. Their concern has now turned into fear & they can’t contain themselves.

redridinghood on April 19, 2012 at 9:55 AM

PS: Where are jobs Jon Boner?

angryed on April 19, 2012 at 9:25 AM

Might want to ask The Chosen One and Harry Reid about that.

GarandFan on April 19, 2012 at 9:56 AM

Maybe Obama should focus on the economy

I think he has and we’re seeing the results.

What we need to do is to get rid of him and let him experience unemployment firsthand.

NoDonkey on April 19, 2012 at 9:56 AM

Bleak. Thanks for the bleak liberals…

kirkill on April 19, 2012 at 9:56 AM

If, like last year, we don’t see a significant improvement (by which I mean we’re under 365K), find something to hold on to because we’re in for a bumpy ride. Something tells me we’re not going to see that below 375K.

Steve Eggleston on April 19, 2012 at 9:33 AM

Everything I’m seeing indicates you’re correct. Small businesses are dumping inventory and not replacing it. People are focused on buying food and gas. They’re hunkered down expecting things to get worse.

People are planning “staycations,” they aren’t making day trips and they aren’t making discretionary purchases. And those are the people WITH jobs.

The 88 million no longer in the workforce are looking for their next can of dog food.

dogsoldier on April 19, 2012 at 9:56 AM

Lol..thought he was here networking, making friends and influencing people? He’s really become a sad, pathetic joke. At least libtard4life was entertaining in her stupidity.

HumpBot Salvation on April 19, 2012 at 9:39 AM

Kind of reminds me of Alan Colmes

OneFreeMan on April 19, 2012 at 9:56 AM

every thread lately seems to have one or two trolls make a comment then the bulk of comments feeding the troll. I thought HA subscribers were smarter than that!!

screwauger on April 19, 2012 at 9:57 AM

I’m tired of his grifter wife, an angry black woman,

Happy Nomad on April 19, 2012 at 9:40 AM

What it all comes down to in flyover land.

angryed on April 19, 2012 at 9:57 AM

Seriously, Obama and administration officials really are out there making the claim that things are improving. They do victory laps when the reported unemployment rate dips down one tenth of one percent. Then the numbers get quietly revised up the very next week.

Happy Nomad on April 19, 2012 at 9:53 AM

It’s not quietly. The numbers are out there. Various finance blogs and sites report it every week. The MSM just buries the story because it does not serve their agenda.

Again, its all about building a narrative. The media distorts the news, says nothing negative about Obama, runs ridiculously skewed polls, etc.. all so they can build a narrative that Obama is going to be hard to beat and that his policies are working.

The only reason Obamacare being overturned by the SCOTUS will get reported is because the MSM will say that it was done through judicial activism and to help Obama by crucifying conservative justices and making the SCOTUS an issue.

milcus on April 19, 2012 at 9:57 AM

No economic data was revised 2001-2008 right?

angryed on April 19, 2012 at 9:27 AM

Revised? We averaged 5% unemployment during that horrible time.

Wagthatdog on April 19, 2012 at 9:57 AM

If only we could’ve had a couple of years with a (D) president and a majority (D) Congress capable of forcing through any corrective legislation they wanted.

Yes, and a filibuster-proof majority in the Senate for a year or two.

With GOP roadblocks removed, the Democrats could have passed a massive “stimulus bill” that would have put $700 billion or so in to the pro-Democratic political funds of labor unions and paychecks of government workers the private economy.

All projections show that such a stimulus bill would have succeeded, without doubt, in holding unemployment below 8%. By today, unemployment would have been at 6%.

After saving the economy, Obama and the Democratic filibuster-proof majority in the Senate, along with Speaker Nancy Pelosi (imagine Nancy Pelosi as Speaker: sigh…) could have crafted a health care reform package that would have won universal support from the American people, thereby preserving the Democratic majority in the House of Representatives for forty years.

But those obstructionist Republicans had to screw it all up!

MidniteRambler on April 19, 2012 at 9:58 AM

You wish that was sarcasm… But no, it will be 7.9, because Obama needs a lower unemployment rate to get reelected, and god knows the Fifth Column Treasonous Media isn’t about to tell the truth.

They have to do it a little at a time or it will look like they are cooking the books to everyone, and not just those of us who are paying attention!

geramy2012 on April 19, 2012 at 9:52 AM

Charles “Eatadickirus” Johnson: Glenn Beck is boiling live frogs on FoxNews… “Glenn Beck is evil”…

Barack “Iateadog” Obama: “Watch me boil those stupid Americans alive just like they were frogs”

SWalker on April 19, 2012 at 9:58 AM

Unexpectedly?
Again?

Is anything that actually happens expected by the administration?

krome on April 19, 2012 at 9:59 AM

As Americans continue to suffer from 8 years of disastrous economic policies, flyover country high fives itself.

PS: Where are jobs Jon Boner?

angryed on April 19, 2012 at 9:25 AM

It’s 9:25am. angryed got out of bed about 20 minutes ago, climbed the stairs to crack open the door to see if the parents have left for work, self-pleasured (speaking of John Boner), and now has time to post a distracting rant.

You don’t care about what I have pasted below, but others might. If you are concerned about jobs email Harry c/o US Senate or vote Republican in November. Mr Boehner has done well in this area, thank you very much.

“The House has acted once again to support private sector job growth. These are bipartisan bills and the President has voiced his support for them. But they can’t become law unless the Senate stops stalling and starts passing these jobs bills,” Chairman Bachus concluded.

The following bills were approved by the House of Representatives:

H.R. 2940, the Access To Capital For Job Creators Act
H.R. 2940, introduced by Rep. Kevin McCarthy, removes a regulatory ban that prevents small businesses from using advertisements to solicit investors. The bill was approved by a vote of 413 to 11.

H.R. 2940 allows small companies offering securities under Regulation D to utilize advertisements or solicitation to reach investors and obtain capital. The SEC’s ban on solicitation, first adopted in 1982, limits the pool of potential investors and severely hampers the ability of small companies to raise capital and create jobs.

Rep. McCarthy said, “In order to flourish, entrepreneurs and small business owners need fewer regulatory restrictions and greater access to capital to start and grow companies and get more people working. This capital allows ideas to become real products and services, which in turn create jobs in communities and value for consumers. That’s why I’ve introduced the Access to Capital for Job Creators Act, to unshackle small businesses and allow them to create jobs.”

H.R. 2930, the Entrepreneur Access To Capital Act
H.R. 2930, introduced by Rep. Patrick McHenry, removes SEC restrictions that prevent “crowdfunding” so entrepreneurs can raise equity capital from a large pool of small investors who may or may not be considered “accredited” by the SEC. The bill was approved by a vote of 407 to 17.

H.R. 2930 allows companies to pool up to $1 million without registering with the SEC or up to $2 million if the company provides investors with audited financial statements. Individual contributions are limited to $10,000 or 10 percent of the investor’s annual income, whichever is less. The Administration announced its support of the legislation in a Statement of Administration Policy released yesterday.

Rep. McHenry said, “It’s clear that we need new ways to help small businesses and entrepreneurs take their ideas from the dinner table to the production line. The first step is to modernize outdated regulations that stand as barriers to American innovation. This legislation will ensure that our small businesses are not left behind. Crowdfunding can help give them the means to create jobs for hard-working individuals here at home.”

“Crowdfunding” is an innovative and popular method of capital formation. This technique allows individuals to pool money to fund businesses. H.R. 2930 ensures individuals can invest in innovative start ups and government regulations facilitate small businesses obtaining the investment capital they need to finance their operations.

DaveDief on April 19, 2012 at 10:00 AM

Where do you buffoons get 88 million people out of work? The entire workforce is ~140M. The Sarah Palinization of the GOP continues, getting stupider and more uninformed by the minute.

angryed on April 19, 2012 at 10:00 AM

We’re all being too hard on the Bamster. We all KNOW he can’t control unemployment any more than he can control gas prices.
/

VietVet_Dave on April 19, 2012 at 10:00 AM

So cue the return of <400K is "good" or some such stupidity…

Gingotts on April 19, 2012 at 9:24 AM

Of course it’s good.

Before Obama got into office we were losing eleventy billion jobs a month!!!

ButterflyDragon on April 19, 2012 at 10:01 AM

Revised? We averaged 5% unemployment during that horrible time.

Wagthatdog on April 19, 2012 at 9:57 AM

Yeah with a housing bubble and 2 wars financed by China. Yes indeed, a robust and sustainable economy if I ever saw one.

angryed on April 19, 2012 at 10:01 AM

I want to know where these 88 million unemployed people are.

angryed on April 19, 2012 at 10:02 AM

I think he has and we’re seeing the results.

What we need to do is to get rid of him and let him experience unemployment firsthand.

NoDonkey on April 19, 2012 at 9:56 AM

Obviously we need to get rid of him.

However, there are still 8.5 months to go before Mitt Romney is sworn in as President. People have to eat, pay bills, etc.. The solution cannot simply be to wait it out.

And even then, the fiscal crisis is going to hit before Romney is sworn in (Bush tax cuts expire, debt ceiling mess, etc..)

milcus on April 19, 2012 at 10:02 AM

Maybe Obama should focus on the economy instead of doing nothing but campaigning. That will help him get re-elected more than deflecting the attention to non-sensical issues (and will make angryed very happy in the process).

milcus on April 19, 2012 at 9:54 AM

Unfortunately for us he has neither the desire, the brains or the ability to figure this out and fix it. Hopelessly flawed ideology and utopian fantasy turn his mind to mush with the same effectiveness as any narcotic.

dogsoldier on April 19, 2012 at 10:02 AM

Yeah with a housing bubble and 2 wars financed by China. Yes indeed, a robust and sustainable economy if I ever saw one.

angryed on April 19, 2012 at 10:01 AM

Democrats inhertied 4.6% unemployment in January 2007.

Wagthatdog on April 19, 2012 at 10:05 AM

Yeah with a housing bubble and 2 wars financed by China. Yes indeed, a robust and sustainable economy if I ever saw one.

angryed on April 19, 2012 at 10:01 AM

Which party was it that was sounding the alarm bells about the housing market during the middle part of the last decade and which party was it that ignored those concerns and even played the race card to deflect any attempt to reform Fannie and Freddie?

Doughboy on April 19, 2012 at 10:05 AM

when obama can get openly and SEVERELY mocked for eating dogs, the writing is on the wall. and blood is in the water. he is going down from now to November. slowly, slowly sinking.

THANK YOU JESUS!!!!!!

GhoulAid on April 19, 2012 at 10:07 AM

The housing bubble George Bush warned Congress well over a dozen times and Democrats ignored? That one?

The wars Democrats voted for and Bush inherited from Clinton? Those wars?

Obviously, to blame the GOP Congress now, who only control half of Congress but not blame Democrats who controlled BOTH HOUSES the last 2 years of Bush and first 2 of Obama is laughable.

Bush policies ended the day Dems took over Congress unless you’re saying they supported Bush policies.

Wagthatdog on April 19, 2012 at 10:07 AM

Yeah with a housing bubble and 2 wars financed by China. Yes indeed, a robust and sustainable economy if I ever saw one.

angryed on April 19, 2012 at 10:01 AM

The economy hasn’t been ‘sustainable’ since the last time we had an increase in national debt, libtard, Bush wars or no Bush wars. Even Bill Clintoon’s economic uptick wasn’t sustainable.

MelonCollie on April 19, 2012 at 10:07 AM

According to the Census:
Population: 311M
Of that 311M, 195M are 18-65

So you buffoons are saying that 88 million of that 195 are unemployed.

LOL

angryed on April 19, 2012 at 10:07 AM

So what you’re saying is claims are down from last week. Thanks

plewis on April 19, 2012 at 10:07 AM

Even Bill Clintoon’s economic uptick wasn’t sustainable.

MelonCollie on April 19, 2012 at 10:07 AM

Balanced budget, 3.5% unemployment. Yeah that sucked.

angryed on April 19, 2012 at 10:08 AM

“every month that we do not have an economic recovery package 500 million Americans lose their jobs”
 
- Nancy Pelosi, Speaker of the House, 2009

rogerb on April 19, 2012 at 10:08 AM

Unfortunately for us he has neither the desire, the brains or the ability to figure this out and fix it. Hopelessly flawed ideology and utopian fantasy turn his mind to mush with the same effectiveness as any narcotic.

dogsoldier on April 19, 2012 at 10:02 AM

But I thought he was the champion of the middle class, fighting for every job against the evil 1 percenter Mitt “moneybags” Romney? Obviously that is a crock of you know what for anyone with a brain. But people believe that, and he believes that. So, if that is the case, doing something would help his “people” more than empty campaign rhetoric.

milcus on April 19, 2012 at 10:08 AM

Democrats inhertied 4.6% unemployment in January 2007.

Wagthatdog on April 19, 2012 at 10:05 AM

Along with a housing bubble on the verge of bursting. That’s the great legacy of Bush’s “Ownership Society”.

angryed on April 19, 2012 at 10:09 AM

Yeah with a housing bubble and 2 wars financed by China. Yes indeed, a robust and sustainable economy if I ever saw one.

angryed on April 19, 2012 at 10:01 AM

Forgot to mention we had a record 52 months of job growth and a record high stock market during those bleak times of the Bush Presidency. All BEFORE Democrats took over the check book.

Wagthatdog on April 19, 2012 at 10:10 AM

So nobody will back up the ridiculous claim that Obama is responsible for 88 million unemployed people. But I’m sure you’ll repeat the lie many more times.

angryed on April 19, 2012 at 10:10 AM

Obviously we need to get rid of him.

However, there are still 8.5 months to go before Mitt Romney is sworn in as President. People have to eat, pay bills, etc.. The solution cannot simply be to wait it out.

And even then, the fiscal crisis is going to hit before Romney is sworn in (Bush tax cuts expire, debt ceiling mess, etc..)

milcus on April 19, 2012 at 10:02 AM

What track record of his do you have, that indicates that anything he does will be positive?

Barack Obama is an inflexible idealogue. He has shown zero ability to learn anything whatsoever. He is as close-minded as the day is long. He is impervious to facts and logic.

The only possible relief to our economy is when he and his utterly worthless roadblock of an administration goes. That’s why it’s so important to get rid of him.

NoDonkey on April 19, 2012 at 10:10 AM

Balanced budget, 3.5% unemployment. Yeah that sucked.

angryed on April 19, 2012 at 10:08 AM

It was based on a tech bubble. More specifically the dot-com bubble. Bush not only got hit with that bursting, but with Clinton’s refusal to take Osama when he was offered on a silver platter. And added a few f*ck-ups of his own to boot.

MelonCollie on April 19, 2012 at 10:11 AM

As the Federal Reserve Bank of St. Louis notes, there are eighty-million people currently in the US jobforce who are able to work, but do not. http://research.stlouisfed.org/fred2/series/LNS15000000
Their source is the US Department of Labor.

At no time in US history before the 0bama administration has this ever happened.

You’re doing a heckuva job, Barry!

MidniteRambler on April 19, 2012 at 10:11 AM

geez angry Ed…you make a lousy democrat

DHChron on April 19, 2012 at 10:11 AM

Maybe Obama should focus on the economy
milcus on April 19, 2012 at 9:54 AM

Are you telling me that… he’s not? Like a dead laser.

VietVet_Dave on April 19, 2012 at 10:11 AM

Obama eats dogs by the way

DHChron on April 19, 2012 at 10:11 AM

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