United States Recurring Unemployment Claims Reach Highest Point Since November 2021
According to a Labor Department report, recurring US unemployment benefit claims reached the highest level since November 2021.
Continuing claims, in other words, or the number of people who have already filed an initial application and are now collecting unemployment benefits, increased by 61,000 to 1.87 million in the week ending on April 8.
Manufacturing has generally been on a downward trend since the Federal Reserve began raising interest rates in 2022. In a similar vein, initial unemployment claims grew by 5,000 to 245,000 in the week ending on April 15, per the Labor Department’s data. The median forecast in a Bloomberg survey of economists was for 240,000 applications.
There’s clearly a weak economic foundation in the US. When an economy is dominated by a massive regulatory state and easy money, one cannot expect full employment, much less continued economic property for the masses.
The biggest challenge for the American Right moving forward is to move beyond the simplistic policies of cutting taxes for woke, mega-corporations. It must push for the dismantling of the regulatory state and the ultimate abolition of the Federal Reserve system. Limited government and sound money will be what will restore economic sanity in America and unlock its true economic potential, which will grant untold levels of prosperity for America’s masses