new jobless claims fall continuing unemployment claims hit record highs

Looks like there are fresh signs of an economic recovery on the way...or so the data suggests anyway. The Commerce Department has stated that new home sales moved north ever so slightly for the month of April i.e. 0.3 percent. At the same time jobless claims dropped by 13,000 to 623,000. So that's good news right!!! Yes it is, but hold on to your hat for second. While "new" jobless claims are down "continuing" jobless claims are up again. As a matter of fact, continuing jobless claims are up to a record high of 6.79 million. Wow folks that is a staggering number.

To put matters into perspective the 6.79 million unemployed nationwide is now larger than the entire population of some states like Arizona, Utah, Colorado, New Mexico, Arkansas, Missouri and Tennessee to name a few. This is serious business folks; especially to the whiners complaining the government should stay on the side lines. If the government doesn't continue to move forward with its economic recovery initiatives, undoubtedly, the current 6.79 million unemployed would only reach an even more ridiculous number. The only real question is...where is the private sector? What exactly is the private sector doing to revitalize the economy? Just because new jobless rates have fallen, doesn't mean more work isn't necessary, especially since continuing unemployment claims hit record highs. Bottom line - It's time to step up and make it happen.