While the U.S. electoral process is at its most critical, the momentum of the country’s economy is not stopping. The drop to 751,000 in unemployment claims the week before is evidence of this.
The Department of Labor reported this decline for the week ending Oct. 31, and the figure is now comparable to that recorded in March, according to its website.
The requests set a record of 6.87 million for the week of March 27, due to the disaster caused by the CCP (Chinese Communist Party) Virus.
Then, aid dropped to 1 million in August, and since then it has continued to drop steadily.
Continuous requests, that is, those that continued to be made after the initial request, fell to 7.28 million showing a decrease of 538,000 from the previous week.
Another indicator of a robust economy achieved during the Trump administration is reflected in an unemployment rate of 7.9%, despite the terrible impact caused by the CCP Virus.
Real gross domestic product (GDP) also increased at an annual rate of 33.1% in the third quarter of 2020, as a sign of the timely move to reopen businesses and resume activities, said the Bureau of Economic Analysis (BEA).
In particular, U.S. small business confidence was one of the factors driving the economy. In September, it rose 3.8 points, retaking the highest rate since February.
National Federation of Independent Business (NFIB) chief economist Bill Dunkelberg explained a little about this case.
“As parts of the country continue to open, small businesses are seeing some improvements in foot traffic and sales,” Dunkelberg said.
A healthy economy is one of the aspirations of most Americans, and this aspect of national policy is given priority, and that’s why the president seems to have gained a lot of favor among voters.
This preference can be seen in the results of an America First Priorities poll, published by the Daily Caller in September. In it, 20% of those polled gave priority to jobs and the economy, the areas with the best indicators during President Trump’s administration.