WaExaminer: The end of April saw the fewer workers getting unemployment benefits than anytime in the last 28 years, the Department of Labor reported Thursday in a sign of the labor market’s increasing health.
Just 1.9 million people received unemployment insurance benefits at the end of the month, the fewest since 1988. Benefits are available for up to 26 weeks in most states.
Even more engouraging: Averaging over the past four weeks, total unemployment benefit claims are running at the lowest rate since 1974, despite the workforce being 75 percent bigger. MORE
Means there is a shortage of workers that drives wages that drives prices. No one will care though with a good solid job. Even more encouraging: The minimum wage can go to $15 now and no one will notice. Except for those fixed income types, but no one cares about them either!
Nancy Pelosi, world renowned economist, said that unemployment insurance creates jobs.
What were the numbers of people whose benefits have run out and are now not counted as receiving EI? Is the counting method the same as unemployment wherein if the person being asked has just about given up and stopped looking for work (or not looked for work in 6 months, correct me if I’m wrong) they fall out of the survey and aren’t counted as unemployed.
The continual lay-offs from businesses straddled with Obama regulations are betting on things going better with Trump, and are sustaining employment levels.
Try getting a job, and find out how phony the 5% rate is. There are often hundreds of applicants for a single job. I have a strong resume and I’m in a strong field that boasts low unemployment, and its extremely difficult to find something.