Number Of Workers Receiving Unemployment Benefits Hits Lowest Number In 44 Years

The number of people receiving unemployment went way up under Obama. Now, Trump has been president for just a year and the number has already hot a historic low!

The Washington Examiner reports:

Number of workers receiving unemployment benefits falls to lowest level in 44 years

The total number of workers receiving unemployment benefits fell to the lowest level in 44 years to end 2017, the Department of Labor reported Thursday.

Altogether, 1.87 million people received unemployment insurance benefits in the last week of the year, the lowest such seasonally-adjusted mark since December of 1973. Benefits are available for up to 26 weeks in most states.

The low number of people utilizing unemployment insurance is a good sign for the economy. Fewer people seeking unemployment benefits suggests that fewer people are getting laid off. Total claims have scraped the lowest levels in decades several times in recent months.

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As for new claims for unemployment benefits, they rose 11,000 to 261,000 in the first week of 2018, according to the same report.

Forecasters had expected jobless claims to drop only slightly from the previous week’s level of 250,000, the highest such mark since November. Instead, they rose to the highest level since September, when the numbers were inflated by hurricane damage to southern states.

Imagine what things will be like four to eight years from now.


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