Not that anyone will give the President and the team of Democrats that have lead this uninterrupted recovery from the greatest economic downturn since the Great Depression but:
WASHINGTON (AP) — The number of people seeking U.S. unemployment aid dropped to the lowest level in 14 years last week, the latest signal that companies are cutting fewer workers and hiring could remain healthy.
The Labor Department said Thursday that weekly applications for unemployment aid fell 23,000 to a seasonally adjusted 264,000, the lowest level since April 2000. Given that the U.S. population has grown considerably since then, the proportion of the U.S. workforce applying for benefits is even smaller. Applications are a proxy for layoffs.
With unemployment down to 5.9% the US employment picture is clearly in the healthy range. Not "new normal" healthy, but actually healthy. And despite the worldwide downturn that has austerian Europe, including juggernaut Germany, in a practical recession, the employment forecast is bright in the New World:
The economy has added 2.64 million jobs in the past 12 months, the best annual showing since April 2006.
The number of available jobs soared to a 13-year high in August, according to a separate government report. That suggests employers will keep adding jobs at a healthy clip in the coming months.
Longterm unemployment, underemployment and stagnant wages are still a blight on millions of Americans and a drag on this recovery but increasing the demand for labor while shrinking the pool of unemployed is by far the most effective way to increase the quality of jobs. There is no bad outcome when businesses have to compete for quality hires.
While the Eurozone including the UK have been in and out of recession technically and are barely better off unemployment wise since 2010, the US has managed to avoid a rebound recession like the one in 1936, sparked by drastic spending cuts, which stalled Roosevelts recovery. Historians will take a much better view of this performance than contemporary critics from both the Right and the Left. That's life in the big leagues.
Don't expect anyone to trumpet this unprecedented recovery but take pride that Team Blue has done good.
-Note to Pluto. Sincere thanks for your comment last night. I reread it this morning and have never been happier to be called an idiot! Officially off the ledge for now.