Economy Booming

Drudge Report links to a Bloomberg article which reports new jobless claims last week dropped to the lowest level since early 1973. For the arithmetically challenged, that was 45 years ago. Some key quotes:

Four-week average of initial claims, a less-volatile measure than the weekly figure, fell to 224,500 from the prior week's 225,000.

Applications for jobless benefits below the 300,000 tally are typically considered consistent with a healthy labor market.

Meanwhile Breitbart reports government statistics which show:

USDA data reveals that the number of Supplemental Nutrition Assistance Program (SNAP) participants fell from 42,676,312 in January 2017 when Trump took office to 41,324,904 in December 2017—a decrease of 1,351,408.

In November we'll see a test of James Carville's dictum "It's the economy, stupid!" The economy is clearly booming, which should see incumbent Republicans do well.

On the other hand, good times could lead to Republican voter complacency whereas Democrats are fired up with hating President Trump. We live in interesting times....