The economy is set to continue to grow through this year as overall jobless claims drop across the country.
The Labor Department recorded the lowest four-week jobless claims, which is considered to be one of the best measures of labor market trends, across the country since December of 1969.
The only state that experienced an increase in individuals applying for unemployment benefits was Maine, which saw a total of 213,000 claims, an increase of about 3,000 claims from the week before.
Despite major business networks’ predictions, there have been no signs that the Trump tariffs have damaged American industry or the numbers projected by the Department of Labor.
The data released by the Labor Department also suggested that the number of people receiving benefits after one week of initial aid dropped 20,000 to 1.71 million, while the four-week average displayed slightly higher results, at 1.73 million.
The four-week continuing claims data from the month of July to August declined by 15,000, hinting at a decrease in the overall unemployment rate for the month of August.