JOBS JOBS JOBS
The number of seasonally adjusted insured unemployed Americans dropped by over one million in this week’s analysis from the Bureau of Labor Statistics compared to the previous week.
The Trump White House is no doubt ecstatic with the news from the BLS released this morning:
In the week ending August 29, the advance figure for seasonally adjusted initial claims was 881,000, a decrease of 130,000 from the previous week’s revised level. The previous week’s level was revised up by 5,000 from 1,006,000 to 1,011,000. The 4-week moving average was 991,750, a decrease of 77,500 from the previous week’s revised average. The previous week’s average was revised up by 1,250 from 1,068,000 to 1,069,250. The advance seasonally adjusted insured unemployment rate was 9.1 percent for the week ending August 22, a decrease of 0.8 percentage point from the previous week’s unrevised rate.
The advance number for seasonally adjusted insured unemployment during the week ending August 22 was 13,254,000, a decrease of 1,238,000 from the previous week’s revised level. The previous week’s level was revised down by 43,000 from 14,535,000 to 14,492,000. The 4-week moving average was 14,496,250, a decrease of 709,000 from the previous week’s revised average. The previous week’s average was revised down by 10,500 from 15,215,750 to 15,205,250.
According to data released this morning by the Bureau of Labor Statistics, there are more than one million less people on insured unemployment this past week alone.
The markets are at a record pace and now jobs are coming back! This is great news after the horrendous economic disaster the China coronavirus placed on the economy. Before this, the United States and President Trump were enjoying the greatest economy in US and world history with the GDP at $23 trillion – more than any economy ever!
The BLS shows the following chart on initial claims going down:
Up through February, the US economy had increased by more than 7 million jobs under President Trump.