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Thursday, May 11, 2017

Joblessness at nearly 30-year low

The last time new claims for unemployment were this low Reagan was president, the Browns made the playoffs regularly, and Comedy Central had comedians who told jokes.

From Reuters:
WASHINGTON -- New applications for U.S. jobless benefits unexpectedly fell last week and the number of Americans on unemployment rolls hit a 28-1/2-year low, pointing to a rapidly tightening labor market that could encourage the Federal Reserve to raise interest rates in June.
Initial claims for state unemployment benefits dropped 2,000 to a seasonally adjusted 236,000 for the week ended May 6, the Labor Department said on Thursday. Claims for the prior week were unrevised.
Economists polled by Reuters had forecast first-time applications for jobless benefits rising to 245,000.
Some of this reflects long-term unemployment which has placed the labor participation rate at a historic low.

But the drop also reflects the decision last fall to replace our first Marxist president with a true capitalist. Many businesses are expanding as profits and earnings rise.

On November 8, 2016, the American people said, "Trump the Establishment!"

Now read the book that explains how and why the press missed this historic the election.

It is available on Kindle, and in paperback.

And then read the original, "Trump the Press," which chronicled and mocked how the media missed Trump's nomination.

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  1. Hmmm. Who would have ever imagined that just the hope of rolling back regulations and corporate and personal taxes would give our economy a much-needed jolt? If Congress would just follow President Trump's lead and show some gumption we could repatriate a lot of profits that are lying dormant overseas. Then it's Katy bar the door because that money will be reinvested here. Money is no good just sitting around drawing an anemic interest rate. It must be used to DO things, and the more money the more things get done. I believe the financial term is velocity. Fasten your seat belts. - Elric

  2. Unemployment dropping; Obama hardest hit!

  3. I wish that you were right about Donald Trump being a capitalist but sadly his policies and actions expose his corporatism.

    Corporatism "is a social system where the government intervenes aggressively into the economy, typically with political instruments that benefit large corporations and enterprises to the detriment of smaller businesses and private citizens. Such instruments include subsidies, tariffs, import quotas, exclusive production privileges such as licenses, anti-trust laws, and compulsory cartelization designs."

    1. Way to win back the blue-collar vote for the Dems, man.

      How's Mary-Ann these days, Professor?

    2. In other news, with illegal workers feeling less confident (and employers and hopefully landlords, too being less compliant to border jumpers), anecdotal evidence mounts that Americans are about to do the jobs they used to do at wages less watered down by a massive illegal workforce

  4. "unexpectedly" There's that word again being used by the Fake News Media. It used to be used about bad news during the Obungler administration. Now it's being used about good news during the Trump administration. GOC

    1. Hahaha! Yeah, this is akin to "Jack Nicklaus unexpectedly won another major." Trump has been a businessman his whole life. Pretty sure he knows what he's doing.