It's Mother Nature's Fault

There is no denying that unemployment claims have dipped or rose over the last couple of years.  What needs to be noted however, is the hard fact that most individuals who are unemployed cannot receive benefits and therefore are not counted among the unemployment rate.  Nor are individuals who have completely stopped looking for work and have decided to ride the economic waves until things pick up.  

Officials released new data showing that the unemployment rate was once again near a 3-month high.  According to reports, "The Labor Department said Thursday that weekly applications dipped 1,000 to a seasonally adjusted 388,000. It was little changed from the previous week's figure, the highest since Jan. 7."  Employers created nearly 120,000 jobs in the month of March, despite the additional opportunities hiring was still slow. 

Federal Reserve Chairman Ben Bernanke agrees with officials at the Labor Department that perhaps Mother Nature is to blame.  Their reasoning?  Bernanke stated that "perhaps [the weather made] January and February artificially strong and March perhaps artificially a little bit weak."  

 Whether the current economic climate is Mother Natures fault or not there is no denying that the unemployment rate is 8.2%.  Although it is down from 9.1% it is still important to keep in mind all of the claims that have gone un-filed, those who cannot receive benefits and individuals who have stopped looking altogether which could make that rate much higher. 

 For this and other news please go to www.foxnews.com, www.cnn.com or www.msnbc.com.  To read more about the latest data from the Labor Department please go to: http://www.foxnews.com/us/2012/04/26/us-unemployment-aid-requests-near-3-month-high/#ixzz1t9dmIpkE