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.
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.
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.
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.