Written by DML
Lost amid the news reports about Confederate statues being ripped down throughout the U.S., ISIS launching a terror attack in Spain, and Steve Bannon leaving the White House, was the amazing jobless claims report that came out on Thursday. How convenient for the liberal mainstream media to let something so big slip past their headline reels.
It was announced Thursday that the number of American workers filing for unemployment benefits fell to near a six-month low, thus, pointing to another victory for President Donald J. Trump and a further tightening in the labor market.
According to the Labor Department, initial claims for state unemployment benefits dropped 12,000 to a seasonally adjusted 232,000 for the week ended August 12, 2017.
The number represents the lowest level since the week ended February 25 when claims fell to 227,000, which was the best reading since March 1973. There is no question, this is definitely a major development in making America great again, and something that would have been headline news had it happened under the Obama administration.
According to CNBC, it marks the 128th week that claims remained below 300,000. In other words, the economy is humming. President Donald J Trump has every reason to celebrate, and this is the longest stretch since 1970. Keep in mind, that in 1970 the labor market was a fraction of what it is today.
In case you are wondering, the unemployment rate is 4.3 percent.
FROM FROM FOX NEWS:
“Economists polled by Reuters had forecast claims dropping to 240,000 in the latest week. A Labor Department official said there were no special factors influencing the claims data and that no states had been estimated.
The four-week moving average of claims, considered a better measure of labor market trends as it irons out week-to-week volatility, fell 500 to 240,500 last week.
Last week’s claims data covered the survey week for the August non-farm payrolls. The four-week average of claims fell 3,500 between the July and August survey periods, suggesting another month of solid job growth.
Payrolls increased by 209,000 jobs in July. The economy has added 1.29 million jobs this year and the unemployment rate has fallen five-tenths of a percentage point.”
Thursday’s claims report also showed the number of people still receiving benefits after an initial week of aid fell by 3,000 to 1.95 million in the week ended Aug. 5. The so-called continuing claims have now been below the 2 million mark for 18 straight weeks, pointing to shrinking labor market slack.
The four-week moving average of continuing claims dropped by 6,000 to 1.96 million for the week ended Aug. 5, remaining below the 2 million mark for the 16th consecutive week.
President Donald J. Trump vowed to be the best job creator God ever created. Perhaps an egotistical statement, but look at where we were with Obama, and look at where we are now. Is he far off with the statement?
Forget about the wild tweets, and look past the nonsense controversies blown out of proportion by the media and camera-hungry people like Anthony Scaramucci. I ask you to focus solely on your own life. Do you see the empty stores on Main St. being filled? Do you see people walking around with shopping bags in hand? Do you feel better about where things are headed? Most people will answer ‘yes’ to these questions. We didn’t get here by chance, or by luck.
Of course there is work left to be done, but imagine how well we’d be doing as a country if the media would allow Trump to do his job without kicking him in the groin every day. The thought alone is wonderful, but the fact that it is merely a thought is sad. Please share this post.
If you would like to receive Breaking News text alerts on a smartphone or tablet, download the DML APP which is completely FREE and easy to use. Go to the Google Play Store or the IOS App Store and search for DML APP. Be sure to keep the app’s notifications setting on. Another way to receive alerts is to text to 40404 the following message: follow @realdennislynch (be sure to put a space between the word follow and the @ symbol).
To see more stories like this, sign up below for Dennis Michael Lynch’s email newsletter.
Sign up to get breaking news alerts from Dennis Michael Lynch.
Advisory Council on Infrastructure scrapped by President Trump