The US economy under President Trump and the Republican-controlled Congress continued to smash records this week, with new data showing American jobless claims at its lowest level in over 49 years.
According to Market Watch, the “rate of layoffs” of Americans is at rates not seen since the 1960s as the job market nears full-employment; further signaling a robust US recovery in the wake of the “great recession” just one decade ago.
“The rate of layoffs as measured by U.S. jobless claims fell to the lowest level since 1969, reflecting the strongest labor market since the end of the dotcom boom nearly two decades ago,” writes Market Watch.
“Initial U.S. jobless claims fell by 10,000 to 210,000 in the seven days ended Feb. 24. Economists surveyed by MarketWatch had forecast claims to total 226,000. New claims haven’t been this low since December 1969,” adds the site.
The strong data echoes similar reports in recent weeks; showing higher wages, expanded benefits, and record-breaking stock figures following the passage of the Republican-sponsored tax cuts.