Economy

GREAT AGAIN: US Jobless Claims PLUMMET to Lowest Level Since 1973

posted by Hannity Staff - 6.07.18

The US economy continued to roar to life this week under President Trump and the Republican-controlled Congress, with new data showing American unemployment claims at the lowest levels in over 44 years.

Last month, US-based workers receiving unemployment benefits fell to just over 1.7 million; the lowest figures seen since Christmas 1973 and signaling a healthy American economy heading into the third quarter of 2018.

“Initial claims for state unemployment benefits decreased 1,000 to a seasonally adjusted 222,000 for the week ended June 2, the Labor Department said on Thursday. Claims data for the prior week was revised to show 2,000 more applications received than previously reported,” writes Yahoo News.

The strong data comes as the US economy adjusts to an inverted job index for the first time in history, with more employment positions available than American workers to fill them.

“If employers want to fill these 6.7 million job openings, they are either going to have to raise wages or find more clever and creative ways to recruit workers off the sidelines,” added a senior economist.

GREAT AGAIN: $2 TRILLION Added to US Economy Under President Trump

posted by Hannity Staff - 8.14.17

The United States Stock Market has added over $2 trillion to the American economy since President Trump won the 2016 presidential election; smashing expectations and further signaling a robust recovery following years of stagnant growth under Barack Obama.

According to CNBC, the S&P 500 stock index grew by $2.04 trillion since Donald Trump defeated Hillary Clinton last November; soaring after the election on renewed hopes of significant tax reform and the reduction of burdensome regulations imposed by Trump’s predecessor.

The largest gains were seen in information technology, financial services, healthcare, and materials.

President Trump now sets his sights on reforming the nation’s complicated and outdated tax code, a key campaign promise to deliver tax relief to millions of American families and businesses.

“People are in wait-and-see mode in terms of tax reform. We get a bit of a pop every time it gets mentioned, but I think the market is in a bit of disbelief,” said one market strategist.

Analysts also credit President Trump’s pledge to rebuild the American military with the massive rise in stocks associated with Defense contracts, reporting some businesses have seen growth of 30% since the US election last fall.

GREAT AGAIN: April Tax Revenue Was BEST IN US HISTORY According to CBO

posted by Hannity Staff - 5.08.18

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

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