And The Winning Just Keeps On Coming: Jobless Claims Fall Again to Lowest in Nearly Half a Century
By: H.T. Coffee
Just when you wonder if the winning can keep on coming, jobless claims unexpectedly fell again last week to the lowest level since November of 1969.
First-time claims for state unemployment benefits came in at 201,000 That is down from 204,000 in the previous week. Many economists had predicted a rise to as high as 210,000.
The U.S. government uses Jobless claims are a proxy for layoffs. Many watchdogs and anti-Trumpers have been closely watching for signs that the jobless claims will rise dramatically owing to the onslaught of trade disputes and escalating tariffs. Some have feared that these moves by Trump would be costing Americans jobs. Record low unemployment rates would seem to indicate that what many have breathlessly described as a "trade war" is having far less inpact on the U.S. economy than pundits and foes of the administration had predicted.
Because weekly jobless claims can move quickly and explosively economists often look to the four-week moving average of initial claims. This index declined by 2,250 to 205,750, amazingly the lowest level since December 1969.Donald Trump, Winning, Jobless Rate, Unemployment Claims, Economists, PUndits