According to the Department of Labor, new claims for unemployment benefits declined by 249,000 to 1.186 million last week.
Although it was the 20th week in a row over a million jobless claims, it was far smaller than the 1.442 million that economists predicted.
And that’s a very good thing.
“The unexpected decline appears to indicate a subsequent strengthening at the end of July, despite many businesses and states rolling back or delaying reopening plans,” according to Breitbart News.
For the same reasons, President Donald Trump has pushed for the next round of coronavirus aid to include the $600 benefit to Americans in an effort to provide extra assistance.
While the jobless claims are encouraging, other relevant numbers such as unemployment will be out today.
To read more about Trump’s economy, click here.