Unemployment claims follow economic trends that are often directly related to the policies of the person occupying the White House and which political party controls Congress.
For instance, during the reign of Barack Obama, unemployment set a record with 40 consecutive months of unemployment at 8% or higher.
Since Donald Trump took over, unemployment has steadily dropped, except for a few months that peaked higher, but they have all been followed by continued downturns in unemployment.
At the end of March 2019, the first-time applications for unemployment benefits dropped to the lowest level since December 1969, nearly 50 years ago.
Market Watch – Jobless claims touch lowest level since 1969, falling to 202,000 at the end of March – The numbers: The number of people who applied for unemployment benefits at the end of March fell to the lowest level since December 1969, a reassuring sign for the economy amid a bounty of other evidence showing slower growth early in the new year.
Jobless claims, a rough measure of layoffs, fell by 10,000 to 202,000 in the seven days ended March 30, the government said Thursday. Economists polled by MarketWatch had forecast a 216,000 reading.
What happened: Jobless claims have fallen three weeks in a row and are sharply lower compared to a recent high of 244,000 in late January.
The downward descent is also reflected in the more stable monthly average of claims, which fell by 4,000 to 213,000. That’s the lowest level since October…
This is great news for President Trump, but if Democrats ever regain control of the White House and/or Congress, this great news will come to a crashing end.
Every agenda item and policy being put forth by Democrats will only kill the job market being experienced in America today.
During Obama’s tenure, it was very difficult for millions of Americans to find work.
Today, it’s employers who are finding it difficult to fill jobs as there are more jobs than workers in many fields.
If Democrats regain control, it won’t take long for the job market to return to what it was like when Obama was in charge, which means that millions of Americans will lose their jobs and homes.
The opinions expressed by columnists are their own and do not necessarily represent the views of Barb Wire.