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February 22, 2018

US Jobless Claims Fall to Lowest Level in 45 Years

Recovery Spring?

We have not seen jobless claims hit this low a level since Watergate was in the news -- 1973.

The number of Americans filing for unemployment benefits fell to a near 45-year low last week, pointing to strong job growth in February, which should continue to underpin the economy.

...

Claims for six states, including California, were estimated because of Monday's Presidents Day holiday. While that probably distorted last week's data, the underlying trend in claims was consistent with a robust labor market.

"Firms are extraordinarily unwilling to part company with workers reflecting, in all likelihood, the difficulty of replacing them," said John Ryding, chief economist at RDQ Economics in New York.

Economists polled by Reuters had forecast claims unchanged at 230,000 in the latest week. It was the 155th straight week that claims remained below the 300,000 threshold, which is associated with a strong labor market. That is the longest such stretch since 1970, when the labor market was much smaller.


Meanwhile, Trump has popped to 48% approval in the latest Rasmussen poll.

Obama was at 45% at this point in his presidency.

The Rasmussen Reports daily Presidential Tracking Poll for Wednesday shows that 48% of Likely U.S. Voters approve of President Trump's job performance. Fifty-one percent (51%) disapprove.

Donny Two Scoops gonna be Donny Two Terms?


Hm, maybe Trump will cancel the 2020 election after all, if only to save money and bother. Save that money and build a wall with it!


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posted by Ace at 05:31 PM

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