The Trump administration is racking in another achievement as the United State’s weekly claims of Americans filing for unemployment recently hit its lowest level in nearly 50 years.
“The economy is doing GREAT!” President Donald Trump tweeted early Saturday.
In the week ending on April 13, there were 192,000 jobless claims, following 5,000, hitting the mark for the first time since September 6, 1969, according to the Department of Labor.
The four-week average was at 201,250 claims, a drop of 6,000 claims.
United States weekly jobless claims just hit a 50 year low. The economy is doing GREAT!
— Donald J. Trump (@realDonaldTrump) April 20, 2019
JOBLESS CLAIMS AT 50 YEAR LOW!
— Donald J. Trump (@realDonaldTrump) April 12, 2019
On “Fox & Friends” on Saturday, Charles Payne, the host of Fox Business Network’s “Making Money,” praised the new record as the “best story in the country because this is an example of everyone benefitting.”
When asked about what’s behind the new numbers, Payne said, “One thing about the economy is it feeds on itself at a certain point. When it’s great, it gets greater. When it’s bad, it gets worse.”
He noted the influx point was the result of the removal of regulations in the U.S., which are helping small businesses.
See his comments below:
This is yet another trophy to Trump’s achievements during his presidency and likely one he will make known in his campaigning for the 2020 presidential election. The development comes as jobless claims hit a 49-year low in the last week of March, as IJR Red reported.
It also follows several other economic accomplishments of the Trump administration last year, which IJR Red has outlined. Just last month, the White House went on to highlight a number of accomplishments made so far in 2019.
The economic success of the Trump administration also includes obtaining 3 percent growth that was sustained throughout the first two years of his presidency. However, it’s unclear if they will be able to deliver on the promise of 3 percent growth by the end of this year.