U.S. Jobless Claims Drop As Economy Surges Upward

(FreedomJournal.org)- As President Donald Trump fights for his political life and election integrity, the country is still enjoying the fruits of his work lowering taxes and making the economy resilient. Unemployment claims fell to a one-month low in December even as new cases of COVID-19 spike and businesses remain closed in many Democrat states.

According to the Labor Department’s report, which was released on Thursday, initial jobless claims in normal state programs went down to 787,000 in the week ending December 26. It constituted a decline of 19,000. Without the adjustments, the total number of claims dropped by 31,736.

It beat estimates from a Bloomberg survey of economists, which offered a median estimate of 835,000 claims.

By no means has the economy fully recovered at this point, but President Donald Trump has managed to pull off an unemployment number during a pandemic that’s roughly the same as the average unemployment number during the entirety of President Barack Obama’s two terms.

The total number of people continuing claims for state programs, dropped significantly to 5.22 million in the week ending December 19, after economists incorrectly predicted the number would increase by 5.37 million.

President Donald Trump’s economy just keeps proving the “experts” wrong, huh?

As unemployment claims appear to drop once again, the future of the national economy is uncertain as a possible Joe Biden administration looms. Should the former vice president take the reins, he and far-left Senator Kamala Harris could be set to reverse the hugely successful Trump tax cuts and force American workers to pay more in tax despite being hit by a recession caused by Democrat-pushed lockdowns.

Notably, the lion’s share of the total decline in claims came from Illinois. The state saw a reduction of 28,500 applications compared to the week prior.

Congressional leaders have yet to come to an agreement on stimulus checks after President Donald Trump called on them to issue checks worth $2,000 to every American. There may not be a vote on any such measure until the new Congress is sworn in.