ICYMI: UNEMPLOYMENT AT RECORD LOW THANKS TO AMERICAN RESCUE PLAN
Unemployment Lower Than Any Year of Reagan, Trump, Bush 41, or Bush 43 Presidencies
In Case You Missed It – Last week, 229,000 Americans filed for unemployment benefits according to data released yesterday by the Bureau of Labor Statistics, a decline of 2,000 that put the number of jobless claims at historic lows.
The number of Americans on unemployment insurance hit the lowest level since 1970 — lower than any year of the Presidencies of Reagan, Bush, Bush, or Trump. President Biden’s policies brought unemployment below 4% four years faster than forecasters thought was possible.
In recent months, the Biden Administration has been consistently adding more than 400k jobs per month.
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The number of Americans filing new claims for unemployment benefits edged down last week as labor market conditions remained tight, though some slowing is emerging.
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Initial claims for state unemployment benefits fell 2,000 to a seasonally adjusted 229,000 for the week ended June 18, the Labor Department said on Thursday.
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Claims have been treading water since tumbling to more than a 53-year low of 166,000 in March amid signs of some cooling in the labor market.
About Invest in America
Invest In America is a national rapid response operation advocating for robust public investment to rescue the economy from the COVID crisis and create prosperity for the future, and to fight back against fear-mongers who use deficit concerns as a scapegoat to starve American communities and businesses of resources.
The operation consists of two components: Invest in America, the charitable and public education arm, which is a fiscally sponsored project of Economic Security Project funded by the William and Flora Hewlett Foundation and Economic Security Project co-chair Chris Hughes; and Invest in America Action, the advocacy and social welfare arm, which is a fiscally sponsored project of Economic Security Project Action funded by Chris Hughes and the Omidyar Network.
Learn more at InvestInAmericaNow.com and @InvestNowUSA, and InvestinAmericaProject.com.
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