(WSJ) A significant number of people filed initial claims for unemployment benefits at least if you believe an index based off of Twitter.
Economists at the Univ of Michigan have developed a technique that scans billions of Tweets, looking for people Tweeting about job losses and then creates a prediction of the Labor Dept’s weekly report on initial filings–their prediction, 342,000 people filed new claims for jobless benefits last week.
Applications for first time unemployment benefits shot-up 16,000 last week bringing the total to 326,000 from the previous weeks ‘revised’ unemployment claims the U.S. Dept of Labor reported this morning.
On the 04 February, I wrote here an historically high number of people will be locked out of the labor force because of ObamaCare according to a study from the Congressional Budget Office, CNBC reported in February.
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