Some economic news from the end of last week:
The latest jobless claims figures from the Labor Department, which cover the week ending August 1, show that more than 1.18 million workers sought aid last week….
Economists surveyed by Refinitiv expected 1.41 million new claims.
Continuing claims, the number of people receiving benefits after an initial week of aid fell by 844,000 to 16.1 million.
The data coincide with the expiration of the $600/week Wuhan Virus-related payments added to ordinary unemployment payments, so that’s not a driver of this sharp labor improvement; although the impending end of the addendum could have had some impact. The overall improvement in our economy is the driver.
This weakens the case Progressive-Democrats are making to continue paying folks to not work, and it emphasizes their blatant obstruction to getting any sort of relief into our economy.
The biggest relief, of course, would be for the Federal government as a whole to get out of the way of our recovery, to let businesses reopen unfettered. Progressive-Democrats, though, and too many Republicans are continuing to insist on interfering.