Thursday, May 27, 2010

Which is worse... Oil Spill or Unemployment Trends?

For five weeks now the BP pipe has gushed oil into the Gulf of Mexico and the US stock market has bounced around like a ping pong ball. The Bureau of Labor Statistics reported today that the number of people submitting first-time claims for unemployment benefits fell 14,000 to a seasonally adjusted 460,000 however, those that track these numbers suggest that anther 60,000 is required to show a strong employment trend.

Both the oil spill and the unemployment numbers are disappointing news headlines. I expect the unemployment trends to get better faster than the situation in the Gulf. Reckless off shore drilling monitored by a broken and compromised federal government have resulted in an accident that will damage way too much of our planet, our economy, and our human spirit. I expect unemployment numbers to improve in the next three months, lets hope the situation in the Gulf does as well.