The American economy continues to roar to life under President Trump and the Republican-controlled Congress, with new data showing US workers receiving the lowest unemployment benefits since 1973.
New applications for jobless claims fell to the lowest levels in over 40 years as more and more Americans head back to work following the recently passed GOP tax cuts.
“New applications for U.S. jobless benefits increased less than expected last week and the number of Americans receiving unemployment aid fell to its lowest level since 1973, pointing to tightening labor market conditions,” writes CNBC.
“The labor market is considered to be near or at full employment,” adds the site. “The unemployment rate is at a 17-year low of 4.1 percent.”
The strong economic data signals a healthy US recovery heading into the second quarter of 2018, with unemployment hovering at record lows as businesses expand across the United States.