For The First Time In 20 Consecutive Weeks, Jobless Claims Drop Below A Million
There’s some good news on the economic front as the number of new applications for unemployment benefits has finally, for the first time in 20 weeks, dropped below a million. New reports from the Labor Department reported on Thursday that numbers have hit 963,000, despite economist projections of 1.1 million.
Our economy is finally on the mend, though the healing is certainly coming along at a slower pace than we probably would like. You know this is making liberals nervous as the economy is one of the strengths of the Trump administration.
Here’s more from the Washington Examiner:
The total number of people claiming jobless benefits in all programs for the week ending July 25 was 28.3 million, a decrease of over 3 million from the previous week. For comparison, there were 1.7 million people claiming benefits for all programs in the same week in 2019.
While jobless claims remain at historic highs, Mark Hamrick, a senior economic analyst at Bankrate.com, noted that they have fallen in places particularly affected by the coronavirus.
Florida saw a drop of over 23,000 in initial claims between the week ending Aug. 8 and the week prior. Georgia and Texas saw decreases of over 11,000 each over the same time period.
The mainstream media will not want to focus on the positive news of economic recovery. They will be covering the number of coronavirus cases instead, using that as a political weapon against Trump. No doubt these folks are hoping for a second shutdown because for that to happen would mean total economic collapse and sure defeat for President Trump.
Or so they think.
Keep your eye on the prize, folks. Don’t believe what you hear on CNN.