Imagine where the economy would be today if Republicans weren’t actually trying to tank the economy every chance the get.
Initial jobless claims dropped to their lowest level since January 2008, according to the Department of Labor.
The number of Americans seeking unemployment benefits fell by 19,000 to 326,000 the week ended July 27. It’s the latest sign that the job market is finding its footing.
The less volatile four-week moving average fell by 4,500 to 341,250. The July figures are typically volatile as the government adjusts for seasonal layoffs in the auto industry.
Still, the trend in recent months has been positive. Applications, which are a proxy for layoffs, have fallen more than 12% this year. That’s coincided with average gains of 202,000 jobs a month since January.
The payroll company ADP said Wednesday that companies created 200,000 jobs in July, the most for that survey since December. That’s a hopeful sign ahead of Friday’s Labor Department report on July employment.
