(TargetLiberty.org) – President Trump’s economic policies continue to generate good news, with the rate of new jobless claims falling faster than predicted – again. The US economy is still suffering from the Wuhan coronavirus, but the country is steadily getting back to its feet.
Are the latest job numbers any good? https://t.co/bTRKCXKofY
— Intl. Business Times (@IBTimes) November 12, 2020
Economists had expected new claims for unemployment to hit 737,000 in the week ending November 9, down 20,000 from the week before. In fact, the actual total was 709,000 – more than double the predicted fall. The four-week rolling average, which evens out weekly spikes, dropped to 755,250, down 33,250 on the previous week. This brings new jobless claims to the lowest level since the pandemic’s impact in March.
The total unemployment rate is also dropping, with 6,786,000 continuing claims in the week ending October 31. Analysts believe this shows employers are recovering from the crisis and recalling workers they’d laid off. It’s all good news for the US economy, but progress is threatened by the massive tax hikes a Biden administration would inflict.
Copyright 2020, TargetLiberty.org