Unemployment Falls To LOWEST LEVEL IN 50 YEARS

The legacy media won’t report the news.  And sadly too many Americans, especially the young and the dumb, continue to heartily  ingest the poison they serve up.

The number of people who filed for unemployment benefits last week plummeted to its lowest level in decades, according to Labor Department data released Thursday, signaling labor market stability

• Overall inflation: Biden 4.3%, Trump 1.6%
• Grocery prices: Biden 3.8%, Trump 1.4%
• Gas prices: Biden +24.4%, Trump -5.4%

WASHINGTON (AP) — The number of Americans filing for unemployment benefits tumbled to their lowest level more than 50 years last week despite a number of economic headwinds including the war in Iran.

U.S. jobless aid applications for the week ending April 25 fell by 26,000 to 189,000, down from the previous week’s 215,000, the Labor Department reported Thursday. That’s well below the 214,000 new applications analysts surveyed by the data firm FactSet were expecting.

Filings for unemployment benefits are considered a proxy for U.S. layoffs and are close to a real-time indicator of the health of the job market.

According to High Frequency Economics, this week’s number for new jobless aid applications was the fewest since September of 1969.

“There is nothing to worry about in this report. YET!,” HFE’s Chief Economist Carl Weinberg wrote in a note to clients. “At some point, elevated energy costs and prices for materials will cause firms to lay off marginal workers to protect profit margins.”

AUTHOR

 Pamela Geller 

EDITORS NOTE: This Geller Report is republished with permission. ©All rights reserved.