The Wall Street Journal posted an article today about how the economy is doing under the Trump administration.
The article reports:
The number of Americans filing applications for new unemployment benefits fell to a new 49-year low for the third straight week, though Hurricane Florence’s effect on the jobs market remains unclear.
Initial jobless claims, a proxy for layoffs across the U.S., fell by 3,000 to a seasonally adjusted 201,000 in the week ended Sept. 15, the Labor Department said Thursday. It was the lowest level since December 1969, and less than the 210,000 claims economists surveyed by The Wall Street Journal expected.
The article includes the following chart:
Jobless claims have remained low in recent years, as the labor market continues to tighten and managers face difficulty finding qualified employees. The unemployment rate has been hovering near an 18-year low in recent months.
The number of claims workers made for longer than a week declined by 55,000 to 1,645,000 in the week ended Sept. 8. The figure, also known as continuing claims, is reported with a one-week lag.
This growth is the result of deregulation, tax cuts, and the energy policy of the Trump administration. This growth will halt abruptly if the Democrats take control of Congress in November as they have already announced plans to reverse the policies put in place by the Trump administration that have resulted in the growth.