Washington, D.C. (August 16, 2018)—A new report released today from the Department of Labor is signaling the continued expansion of the U.S. jobs market, says Job Creators Network. The data reveals that fewer Americans are having to file for first-time unemployment benefits—dropping by 2,000 claims from the previous week. The fall was unexpected as economists estimated jobless claims to actually creep upward.
“The roaring economy, fueled by tax cuts and the cutting of red tape, has allowed businesses to do what they do best: create jobs,” said Alfredo Ortiz, JCN President and CEO. “From there, the math is simple, more jobs equal fewer Americans filing for unemployment.”
These figures are reinforced by an announcement from earlier in week that revealed Americans are feeling more optimistic about the jobs market. And further positive news showed a strong increase in retail sales—proof that consumer confidence is on the rise.
“But the white-hot economy does not come without downsides. The increasing number of available employment opportunities for workers to choose from has made it difficult for employers to fill open positions. This is why the workforce development programs pursued by the Trump administration are crucial.”