Jobless Claims Clear 49-Year Low
Washington, D.C. (September 20, 2018)—A new report released today by the Department of Labor reveals just how much the strong economy is benefiting the American worker, says the Job Creators Network (JCN). The new data reveals that 3,000 fewer Americans are filing for first-time unemployment benefits compared to the previous week—a drop that brings jobless claims to a near half-century low.
“The economy is on fire and the latest jobless claims data is proof the blaze isn’t slowing down,” said Alfredo Ortiz, JCN President and CEO. “Because of the tax cuts, small businesses have more money on-hand to spend and invest, which is opening up more opportunities for the American worker and creating a stronger sense of job security.”
The news comes as a second round of tax cuts is being debated in Congress—legislation that will focus on extending tax relief measures for individuals and small businesses that were included in the Tax Cuts and Jobs Act. Currently, many of these measures are set to expire in 2025.
“It’s obvious the Tax Cuts and Job Act has been a tremendous success. Passing further legislation that will build off that success is a no-brainer.”