The U.S. Department of Labor announced today that initial jobless claims in the US have risen to 417,000, far above the forecasted value of 405,000. That means more people filed for unemployment for the first time last week, than the week before… roughly 5,000 more. The high number disappointed many, but the data was skewed higher by an irregular event… claims by striking Verizon phone workers.
So the Federal Government is providing unemployment benefits to striking workers now!? Doesn't that increase the incentive to strike? Why is the government taking sides in labor actions like this? It's as if the feds support the strikers over their employers.
I remember the good ol' days when you had to actually be unemployed to collect unemployment.