Job Market Worsens

Unexpectedly, of course.

Initial claims for state unemployment benefits rose 43,000 to a seasonally adjusted 474,000, the highest since mid-August, the Labor Department said.

Economists polled by Reuters had forecast claims dropping to 410,000. The prior weeks figure was revised up to 431,000 from the previously reported 429,000. 

The four-week moving average of unemployment claims, a better measure of underlying trends, increased 22,250 to 431,250, the highest since November. 

Hmmm. You don't suppose this is why Obama needed a big distraction all of a sudden. Maybe that 16 hour deliberation was about whether or not this was the best time to pull the rabbit out of his hat.