UncategorizedShutdown silver lining: Unemployment rate falls

Trump may face lower approval ratings following the longest shutdown in US history, but at least he’s got the facts on his side: The number of applications for unemployment benefits dropped last week to its lowest level in nearly 50 years, even despite the shutdown that put thousands out of a paycheck.

According to the AP, “The Labor Department said Thursday that weekly applications for unemployment aid declined 13,000 to a seasonally adjusted 199,000. The four-week average, a less volatile figure, dropped 5,500 to 215,000.”

It’s a clear indicator that the job market under the president remains stable, and that business owners are confident enough in the economy not to lay workers off when things slow. Of course, rising unemployment applications can also indicate something positive: More unemployed workers who had given up taking another crack at the job market.