The massive shedding of jobs in light of an Obama re-election has started. Weekly jobless numbers have jumped *up* from 73,000 to 430,000 according to the Wall Street Journal. These job losses come after warning signs this week from the markets and business owners who say they can’t afford to keep employees with ObamaCare and the fiscal cliff looming. Hurricane Sandy also had an effect on increasing these numbers.
Sandy drove the number of people seeking unemployment benefits up to a seasonally adjusted 439,000 last week, the highest level in 18 months.
The Labor Department said applications increased by 78,000 because a large number of applications were filed in states damaged by the storm. People can claim unemployment benefits if their workplaces close and they don’t get paid.
CNN is reporting consumer prices for October are up .1 percent.