Jobless claims throughout the United States continued to plummet in the first week of July, hitting the lowest levels seen in nearly half a century as the economy continues to roar to life under President Trump and the GOP-controlled Congress.
According to Market Watch, new benefit claims dropped by roughly 20,000 in early July to just 214,000 applications; hitting a 49-year low and smashing expectations.
“The number of claims last week was the third lowest of the current nine-year-old economic expansion that began in mid-2009,” writes the website. “The last time jobless claims were consistently lower was in 1969.”
The strong economic data spells a potential disaster for Democrats heading into the 2018 midterm elections, with House Minority Leader Nancy Pelosi bizarrely claiming the booming job market is “reckless” for American workers and middle class families.
Read the full report here.
GREAT AGAIN: April Tax Revenue Was BEST IN US HISTORY According to CBO
The Congressional Budget Office released new figures Tuesday showing the federal government took in a record-breaking tax haul in April; smashing previous budget estimates and signaling a growing US economy.
The CBO report shows the United States collected over $515 billion last month; spending just $297 billion and leaving a total monthly surplus of nearly $220 billion; smashing the previous record of $190 billion set in 2001.
“Those payments were mostly related to economic activity in 2017 and may reflect stronger-than-expected income growth in that year,” said one analyst. “Part of the strength in receipts also may reflect larger-than-anticipated payments for economic activity in 2018. The reasons for the added revenues will be better understood as more detailed information becomes available later this year.”
The staggering surplus comes on the heels of record low unemployment and jobless benefits; highlighting a roaring US economy just months after President Trump signed the sweeping tax overhaul into law.
h/t Washington Times
GREAT AGAIN: 95% of Manufacturers ‘OPTIMISTIC’ about Economy, Highest IN HISTORY
A stunning new survey by industry insiders revealed Wednesday that over 95% of American-based manufacturers have a “positive outlook” about the US economy and future growth potential.
The survey, released by the National Association of Manufacturers, shows a staggering 95.1% of those in the industry are optimistic about the US recovery heading into the third quarter of 2018; the highest level seen in the report’s twenty year history.
“Last year, manufacturers promised that we would deliver for our people and our communities if tax reform became law. Congress and the president delivered, and now manufacturers are keeping our promise: hiring new workers, raising wages, improving benefits, buying equipment and expanding right here in the United States. And the best part is, with manufacturers’ record-setting confidence and plans to keep hiring and growing, more good news is yet to come,” said a statement from NAM President Jay Timmons.