Jobless Claims Drop To 48-Year Low - FbiCables Network | The News that Shapes World Opinion

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Friday, April 27, 2018

Jobless Claims Drop To 48-Year Low

The labor market is posting further signs of improvement as jobless claims fall to their lowest in 48-years.
The Labor Department’s latest data shows unemployment claims declined to just above 200,000 last week, remaining below 300,000 for the 164th straight week.
This is also the lowest since December of 1969.
FILE- In this Tuesday, Jan. 30, 2018, file photo, women fill out job applications at a JobNewsUSA job fair in Miami Lakes, Fla. On Friday, April 13, 2018, the Labor Department reports on job openings and labor turnover for February. (AP Photo/Lynne Sladky, File)
A solid labor market is pushing up wages across the U.S. as many companies are facing labor shortages.
This comes in line with President Trump’s tax cuts and deregulation, which have boosted private-sector employment in the majority of states.
“We’ve been using the opposite of the right fiscal strategy since 2008,” stated Nobel Prize winner Richard Thaler. “What we should have done in 2008, we had massive unemployment, we had negative interest rates — now we’re finally at full employment, all those guys are back to work.”
Economists are expecting further economic acceleration as 80-percent of U.S. corporations posted upbeat reports this earnings season.

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