The number of American workers filing for unemployment benefits plunged in April; reaching levels unseen in over 48 years as the US economy continues to roar to life under President Trump and the GOP-controlled Congress.
According to new statistics released by the Commerce Department, jobless claims plummeted to rates similar to those in 1969 as millions of Americans go back to work after the recently passed GOP tax cuts.
“The number of Americans filing unemployment benefits dropped to the lowest level in more than 48 years last week and the goods trade deficit tumbled in March on strong export growth,” writes Yahoo Finance.
The strong data comes as American GDP reached its highest level in 15 years this week, growing at a healthy 3.3%.
“In our economic projections which underlie our budget projections, inflation-adjusted GDP–or real GDP–expands by 3.3 percent this year, and by 2.4 percent in 2019,” said the CBO Director.