Obama's Risky Convention Gambit

It was reported this morning that weekly jobless claims are up for the second straight week, and this week’s unexpected increase exceeded analysts’ expectations. The numbers (372,000 jobless claims last week) don’t suggest that the next unemployment report will be awful, but it’s a safe bet that there won’t be good news for the unemployed either. Weekly jobless claims usually have to be at or below 325,000 to be consistent with job creation.