Jobless claims throughout the United States continued to plummet in the first week of July, hitting the lowest levels seen in nearly half a century as the economy continues to roar to life under President Trump and the GOP-controlled Congress.
According to Market Watch, new benefit claims dropped by roughly 20,000 in early July to just 214,000 applications; hitting a 49-year low and smashing expectations.
“The number of claims last week was the third lowest of the current nine-year-old economic expansion that began in mid-2009,” writes the website. “The last time jobless claims were consistently lower was in 1969.”
The strong economic data spells a potential disaster for Democrats heading into the 2018 midterm elections, with House Minority Leader Nancy Pelosi bizarrely claiming the booming job market is “reckless” for American workers and middle class families.
Read the full report here.