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Applications For Unemployment Benefits Fall to 28-Year Low

Some much needed good news for the White House, and a reminder that despite all the media attacks on President Trump, he still has the American economy pointed in the right direction.

The Department of Labor announced that applications for unemployment benefits fell to the lowest level in three months, and continuing claims hit their lowest level not seen since the Reagan era.

Even the Associated Press had to acknowledge the new numbers are “a sign Americans are benefiting from solid job security.

The Washington Examiner:

Total continuing claims for unemployment benefits ran at the lowest level in 28 years at the beginning of May, the Department of Labor reported Thursday morning in a new sign that the jobs market is still improving.

The total number of unemployed workers receiving benefits fell to 1.9 million, the agency said, the lowest such mark since November of 1988, when the workforce was much smaller.

Over the past month, the average number of continuing claims per week has clocked in at 1.95 million, the lowest number in 43 years.

Those numbers were released as part of the department’s weekly jobless claims report, which is valued by investors and government officials because it provides a frequently-updated indication of new claims for unemployment benefits, a proxy for layoffs. Fewer layoffs means more job creation.

Job creation has been a staple of President Trump’s early days in office. American jobs have been added in success story after success story – at Amazon, Chrysler, Alibaba, and Carrier to name a few.

More jobs means a lesser need for unemployment benefits, and Trump is delivering jobs in spades.

Aside from the unemployment claims, other factors point to a positive job market, including an uptick in factory activity in the mid-Atlantic region.

 

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