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Trump effect: Fewest on unemployment since ’73 as number of millionaire retirees grows

(National SentinelWinning: In the Trump era, the country’s financial and economic news continues to improve as more and more Americans find work and grow wealthier.


As reported by CNBC, new jobless benefits applications grew far less than expected last week, while the number of Americans receiving unemployment aid fell to its lowest level since 1973.

That points to much tighter labor markets, which generally speaking lead to pay hikes as companies compete for a shrinking pool of qualified workers.

CNBC noted further:

Initial claims for state unemployment benefits rose 2,000 to a seasonally adjusted 211,000 for the week ended April 28, the Labor Department said on Thursday. Claims dropped to 209,000 in the prior week, which was the lowest level since December 1969.

Economists polled by Reuters had forecast claims rising to 225,000 in the latest week. The labor market is considered to be near or at full employment. The unemployment rate is at a 17-year low of 4.1 percent, close to the Federal Reserve’s forecast of 3.8 percent by the end of this year.

The economic news for retiring Americans is even better.

According to money manager United Income, which analyzed data from sources, including the Federal Reserve Board, the U.S. Bureau of Labor Statistics, the Census Bureau, the Internal Revenue Service and others, one in six American retirees is considered a millionaire when you combine their cash value with the value of their homes and properties.

Overall, average wealth has risen more than 100 percent since 1989, to $752,000, and the share of those who are millionaires has doubled.

They’re healthier, too. According to Bloomberg, “More retirees—62 percent—are enjoying life without physical or cognitive limitations, according to the data. That number is up from 49 percent in 1963, the first year such data was taken.”

Away from the limelight of scandal, bogus special counsel investigations, and porn-star revelations, the country is doing better under President Donald J. Trump’s policies and the GOP-led Congress’ tax and regulatory reforms.

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