President Donald Trump’s economic record has thus far lived up to his rhetoric on the campaign trail with many records being shattered. His approach has resulted in fewer Americans filing for unemployment benefits, reaching the lowest point in 49 years!
According to Labor Department numbers released last week, claims for unemployment benefits at the state level fell by 3,000 for the week that concluded on Sept. 15. This puts the total at a seasonally adjusted level of 201,000, which is the lowest level recorded since 1969. In addition, the claims report showed that individuals receiving benefits after the first week of aid fell by 55,000 to a total of 1.645 million, the lowest point since Aug. 1973.
Other positive economic news of the Trump economy includes nonfarm payrolls adding 201,000 jobs last month with annual wage growth expanding the most it has in nine years. Meanwhile, the S&P and Dow surge to record highs. Even the critics are beginning to take notice of Trump fulfilling his economic promises so quickly.
“The new highs are being driven mostly by solid economic data,” said Lindsey Bell, a Wall Street investment strategist, to USA Today. “The market seemingly priced in a much more dire situation with regards to tariffs, and given the lower-than-expected tariff rate, the market is moving higher.”
The administration is crediting the success to Trump’s philosophy regarding the economy. As Trump was a successful Wall Street tycoon for so many years, businesses understand that the his administration will not get in the way of job creation. Trump’s tax cuts and deregulatory measures show that he knows what policies the country needs to create jobs, and optimism is soaring as a result.
“When you look at those confidence indexes, they’re telling you something,” National Economic Council director Larry Kudlow said. “His attitude is, we’re not punishing business, we’re not punishing success, we want to make things easier to do business and to hire, and I think it’s had a very positive effect and a very palpable effect.”
Although Trump’s shameless predecessor likes to take responsibility for these economic improvements, it is clear that these achievements are the result of two forces: The President and the hard-working, resurgent American people.