US Economy Hits Milestone Not Seen Since Moon Landing
This is one giant leap for the American workforce.
America is not only and industrious nation, but an ingenious one at that. This sort of nose-to-the-grindstone ethos has been instilled in us from the very beginning.
In school, we are taught all about the Americans who made manifest destiny a battle cry, blazing westward across a little-known continent. They braved the mountains, valleys, plains, streams, and glaciers of what would become this great nation, and they did so with gumption and fortitude.
Then, when that wasn’t enough, they looked to conquer the moon, and space beyond.
These great feats are only possible through a dedication to hard work, and the understanding that with this work comes reward. For with all of our boundless ingenuity, Americans would be helpless without the aforementioned industriousness.
That spirit seems alive and well today, as American claims of joblessness have plummeted to numbers not seen since 1969.
The number of Americans filing applications for unemployment benefits dropped 8,000 to a seasonally adjusted 196,000 in the week ended April 6, the lowest level in over 49 years, according to data released by the Labor Department Thursday.
At 196,000, jobless claims are at the lowest level since early October in 1969. Both the overall American economy and the labor market were much smaller in 1969. The American population is now 61 percent larger than the last time just 196,000 applied for initial unemployment benefit claims.
Claims data can be volatile from week to week, so many economists look to the four-week moving average of claims. This dropped to 207,000, also the lowest level since 1969.
Though riddled with other issues at this moment, President Trump remains an economically successful President, and these latest figures will surely be part and parcel to his upcoming slate of stump speeches.
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