Government

MAGA. Jobless Claims Plummet to Lowest Levels Since 1969

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Jobless claims continued to plunge in the first weeks of July with America’s unemployment applications reaching levels not seen since 1969, according to new statistics released by the Department of Labor.

New data shows the claims fell by more than 8,000 requests to 207,000 in the middle of July; the lowest number of unemployment insurance applications in over 48 years.

“Thursday’s results are likely to reassure Federal Reserve officials that they right to pursue tighter monetary policy, and may even lead them to begin accelerating the pace of interest rate hikes,” writes the Washington Examiner.

The strong economic report spells trouble for Democrats heading into the 2018 midterms, with House Minority Leader Nancy Pelosi calling the booming jobs market “a raw deal” for America’s middle class.

“The June #JobsReport shows what is at stake from the brewing storm of rising health costs, spiraling trade uncertainty & an economy being hollowed out to enrich big corporations & the wealthiest 1 percent.

Americans deserve better than the GOP’s raw deal,” tweeted Pelosi weeks ago.

h/t Washington Examiner

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