FIRST-TIME JOBLESS CLAIMS HIT 375,000, JOB CREATORS NETWORK REACTS
The Department of Labor revealed the number of first-time unemployment claims was 375,000 last week.
“While this week’s jobless claims are lower than last week, they are still unnecessarily high. Any positive improvements should be credited to the 26 Governors who reduced the unemployment benefits for their states, helping to get workers off unemployment and back into the labor force. Under President Trump we had tax cuts, under President Biden we have pay cuts thanks to Democrats reckless spending. The Department of Labor report yesterday showed that inflation has increased by 5.4% over last year, higher than the rate of wages. The latest $3.5 trillion budget, the true cost of which could exceed $5 trillion according to the Committee for a Responsible Federal Budget, will drive up inflation and crush small businesses and workers. Congress needs to immediately rethinking this spending proposal before they devalue the earnings of hardworking Americans even more and push us into a recession.”