Good News: Unemployment Claims Reach an Unprecedented Low

 

The U.S. economy set a new record last week. During the week ending April 21, just 209,000 Americans applied to receive unemployment insurance (UI) payments. The last time initial UI claims were this low was the week ending December 6, 1969—less than five months after Neil Armstrong first set foot on the moon.

Here’s why that is remarkable. In December 1969, there were 82 million Americans in the labor force. Today, there are 162 million. New UI claims just reached a 49-year low with a labor force that is nearly twice as big as it was 49 years ago.

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The figure below shows initial UI claims as a percentage of the labor force, since weekly claims were first tracked in 1967. In March, initial UI claims represented 0.141 percent of the labor force. That is just above the record low set in February (0.138 percent) and about half of the estimate for December 1969, the last time UI claims were this low. Since President Donald J. Trump took office at the beginning of 2017, initial claims as a percentage of the labor force have fallen by 7.1 percent.

Although new UI claims do not tell the whole story of the health of the labor market, they join a slew of other indicators that suggest the labor market is strong. The unemployment rate is at 4.1 percent, the lowest level in more than 17 years. The labor force participation rate has held mostly steady since President Trump took office, which represents a major turnaround from the 2.9 percentage point decline between February 2009 and January 2017.

As the President’s policies continue to grow the economy and benefit workers, we should not be surprised to see continued success on measures of labor market performance going forward.

Shared from Whitehouse.gov

RELATED: President Trump:”America’s Economy Is Back And Its People Are Winning”

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Nick
Nick
4 years ago

Keep up the great work President Trump!

JOHN SCARANO
4 years ago

Apr 28 at 10:08 AM
trumps opioid”by jscarano

it appears trump has compassion for other people,but not for the elderly an seniors, this is a horrible law an it should be fixed, its a shame that we have a president that has no concerns for
seniors an the elderly, but he sure knows how to fix problems for others”this is the worst thing that trump had done to the american people, ”’a lot of people that i know are pissed , you fix the
problem you just don’t take our medication away there’s millions american seniors an elderly
who needs there medication an also the ones that have no cure””this a major problem for trump
he’s gone a little to far”’it may even cost him”””””this is not making america again”””””
trump opioid
Apr 24 at 9:20 AM
John Scarano
to steve scalise
Apr 23 at 8:46 PM
trumps opioid”’will affect low income seniors with
severe pain,”doctors all now discontinue pain medication, an now there recommending to see pain doctors””there co. pay is 45 to 50 dollars a visit an follow ups which i can’t afford,.i was doing fine with my doctor, i was taking pain medication
for many years an it regulated my pain, it now appears
i might have to resort now to liquor an aspirin thanks to donald trump,.im not only speaking for myself, an for the seniors that i know of, an there’s many more””im a very big supportor to donald trump on facebook an disgus commentator an other, from the beginning until now big big time
yes i was attack mently an bodily for being a trump supportor ””’this opioid law is good for the doctors not good for seniors
”””’i call it in a way a death panel for low income
seniors””’an by the way
, im itilian an from queens ny born in brooklyn”””steve i felt very bad about that shooting
”””””an may the lord be with you”god bless you
gun laws affects good americans
trumps opioid law affect good seniors who are in need
an special the one with no cure
trumps opioid law affects low income seniors who are in need, an im one of them
””’i am very much disappointed in president trump, big let down
””””””””””””””very sad””””thank you

Jim Barker
4 years ago

I am a huge fan of President Trump and glad to see the UI claims are at historic lows. But that is only part of the picture. Thank you for fully disclosing where the article says, “Although new UI claims do not tell the whole story of the health of the labor market……The labor force participation rate has held mostly steady since President Trump took office”. This is an area Obama shamefully disregarded, but where I hope our new President will immediately take steps to correct. There are hundreds of thousands of college-STEM-educated Americans that are unemployed due to their potential middle-class jobs being given away to foreigners via H-1B, OPT, and TN VISAs. The Big Business Lobbyists are getting nearly everything they want from Congress when it comes to favoring cheap foreign labor over unemployed Americans. They lie about their being a labor shortage on these jobs. We don’t have a shortage in these areas, we just have greedy companies that want cheap labor and a government that supports them. Where is the America First policy when it comes to these VISAs? You want to bring down the labor participation rate and make Americans really prosper? Then immediately put an end to the H-1B VISAs et al, or suspend these programs for a 5-year period so that Big Business will really have to go to the American labor force. Maybe they will find out that hiring Americans is a good and profitable thing. Besides, they can afford it now more than ever because of the New Corporate Tax Rates. And these are the same corporations that are censoring conservative speech, therefore supporting the leftist propaganda of the MSM and the Indoctrination Centers that we still call colleges. Why in the world would our President and any republicans in Congress support Big Business over ‘we the people’ who elect them? I urge President Trump to stand strong against the greedy left-biased corporations and end or suspend indefinitely these VISA programs.

robertem
robertem
4 years ago

You would bitch no matter what Trump does, you only look at the negative you must lead a sorry life.
Give him a break, he has just started to turn the world around in the right direction.

Maggie
Maggie
4 years ago

John Scarano: you must belong to the Democratic/left party which no matter what President Trump does, is never good enough. Please change your news channel to be better informed . President Trump has actually MAGA. TRUMP 2020.

James E Marcum
4 years ago

President Trump and Pence are the best leaders for US during the past 100 years. May the LORD bless and keep them.

A. J. Roberts.
A. J. Roberts.
4 years ago

President Trump has done what he said he was going to do. That is get our Great-
Country The United States Of America back on it’s feet again. It took him less then a –
Year to do it. Something Democratic President’s have fail to do in their 2nd term. All –
They believe in is Higher taxes and more Government spending. Thank’s To F D R He-
Started this mess. It makes me Proud To Be A Registered Republican.

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