Jobless Claims at Lowest Levels in Decades | NTK Network Jobless Claims at Lowest Levels in Decades

Jobless Claims at Lowest Levels in Decades

Over a year into the new administration, the Trump economy continues to chug along.

By NTK Staff | 05.03.2018 @1:00pm
Jobless Claims at Lowest Levels in Decades

Jobless claims dropped to their lowest levels since 1973 last week, according to a report from CNBC. Economists expected claims to rise to 225,000, but jobless numbers fell well short at 211,000.

The economy has continually beat GDP expectations in the Trump era, outgrowing expectations in the first quarter by almost half-a-percent. And a stellar job creation record marked the first year-and-a-half of the administration, breaking 200,000 per month multiple times.

Now jobless claims are at their lowest recorded level since the Nixon administration:

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.

Initial claims for state unemployment benefits rose 2,000 to a seasonally adjusted 211,000 for the week ended April 28, the Labor Department said on Thursday. Claims dropped to 209,000 in the prior week, which was the lowest level since December 1969.

The Federal Reserve is predicting a 3.8 percent unemployment rate by the end of the year, according to CNBC. Currently sitting at an excellent 4.1 percent, it appears the American economy is not done winning yet.

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