Wall Street Journal: U.S. Jobless Claims Fell to a 49-Year Low Last Week
Initial jobless claims, a proxy for layoffs across the U.S., declined to a seasonally adjusted 203,000 in the week ended Sept. 1
WASHINGTON—The number of Americans filing applications for new unemployment benefits fell at the end of August to a nearly five-decade low.
Initial jobless claims, a proxy for layoffs across the U.S., declined by 10,000 to a seasonally adjusted 203,000 in the week ended Sept. 1, the Labor Department said Thursday. This is the lowest level of unemployment benefit applications since the end of 1969.
Economists surveyed by The Wall Street Journal expected 211,000 new claims last week.
Though data can be volatile from week to week, the four-week moving average of claims, a steadier measure, also fell to a 49-year low. The measure dropped to 209,500.
Jobless claims have remained low in recent years, as the labor market continues to tighten and managers face difficulty finding qualified employees.
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WNU Editor: Many Americans have yet to benefit from this economic boom, but if it continues it will help everyone. My prediction .... the media is portraying the White House in disarray, but President Trump's entire agenda is being implemented across the board in a manner that I have never seen before. This economic boom is very real, and the long term political and geopolitical impacts from this boom should not be underestimated.
10 comments:
"Much as there is a difference between Climate and Weather, so too between good job market and wages that keep up with cost of living"
lao tse sung
Anon,
It's been my experience that being employed allowed me to keep abreast of the cost of living much better than not being employed.
The above comment is from one who NEVER was above the official poverty level my entire working life.
Yeeess
"thrashing in the water better than drowning but being safe on land better still"
Lao Tse
I remember how great the economy was in 2007, too!
I live near The Villages Florida. The fastest growing metro area in the country. In the same area, 8 years ago, I could not find a job any where. Today, every job sector is suffering from lack of employees. Construction is backing up, lines at in the drive throughs are getting longer, appointments for home repairs can be weeks out, and lawn guys are turning down new accounts. In my area, if you do not have a job it's because one of two reasons. Choice, or consequence. The area is definitely suffering from more work than workers at the moment.
Good post. Straight from the trenches.
Scott, I would love to hear the prior occupant of the White House describe HIS foundation laying for Trump's likely history making economic recovery. I am sure it would include words such as shovel ready, ME, I, etc., in great abundance.
He was not even a believable presidential poseur. Pathetic.
Thanks, Scott. As Roger said, it’s always fascinating to hear from someone close to the ground.
Do people talk about the lack of workers in every day conversations?
Crusader, I hear about it constantly. From the businesses I do business with, from my neighbor who owns a lawn company currently working on his own, and even where I work as a sub contractor cable installer. My work loads have increased dramatically due to the lack of techs we are able to find. I've got to swat my company away daily trying to get me to pick up extra work. They have even resorted to offering me $300 just to show up on my day off. Before they would offer $100.
Scott,
We are experiencing a similar situation hwre in the Houston,TX area where I live and there's been a noticeable uptick since the regulatory reforms and tax cuts been instituted with major increases in jobs and incomes increasing far faster than inflation. Once employers and hiring managers can be certain that these,tax cuts and regulatory reforms are relatively stable with more to come especially regulatory reforms, this area can expect even more robust economic growth.
Thank you, Scott, (and B. Poster).
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