Economy

GREAT AGAIN: American Jobless Claims PLUMMET to 45 YEAR LOW

posted by Hannity Staff - 2.08.18

The US economy continues to soar under President Trump and the Republican-controlled Congress, with jobless claims dropping to just 221,000 in the first days of February; the lowest figures seen since March of 1973.

The 45-year-low signals the American recovery is in full-swing following years of low GDP growth and stagnant wages. Economists cite the recent gains as a direct result of a strong job growth and the President’s recently signed overhaul of the nation’s overly complicated tax system.

According to MarketWatch, the stunning numbers are a result of “big declines” in unemployment claims in Missouri, California, and New York; a result of 200,000 new private payroll jobs in January and an unemployment rate hovering at just 4.1%.

“Even better, the long-awaited uptick in worker wages might be in the offing. The yearly increase in hourly pay rose to a nine-year high of 2.9%,” MarketWatch adds.

The rosy economic outlook comes as major American corporations -such as AT&T, Walmart, Disney, Starbucks, American Airlines, Home Depot, FedEx, UPS, Visa, and others- announced their plans to raise wages, expand benefits, and pay out big bonuses in the wake of the GOP-led tax cuts late last-year.