More Bush success in his War on the Economy

If Bush's Iraq war goes as well as his War on the Economy, we're in for an easy ride.

In yet another stunning victory for Bush and his economic team, first-time jobless claims remained above the magic 400,000 mark for the fifth straight week. In the week of March 15, 421,000 lost their jobs. Even better news for Bush (and bad news for his enemy -- the American working people) was the more salient 4-week moving average.

Initial claims for state unemployment insurance benefits have now remained above the key 400,000 watermark -- a level that economists consider the sign of a beleaguered jobs market -- for five straight weeks.

The closely watched four-week moving average -- a more reliable barometer of employment market trends -- rose for the seventh consecutive week to 424,750 from 421,000 in the previous week and to its highest since measuring 429,500 in the May 4, 2002 week.

Bush is confident he can continue to fight this three-front war: against Al Qaeda and the Taliban, against Iraq, and against the nation's economy.

Posted March 20, 2003 08:33 AM | Comments (32)