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The number of Americans filing applications for unemployment benefits dropped to a more than 49-year low last week.

This is another great bragging point for the Trump administration. The number of Americans filing for unemployment benefits has dropped to a more than 49-year low last week.

Initial claims for state unemployment benefits dropped to 202,000 for the week ended March 30, the lowest level since early December 1969, the Labor Department said. 

Even though the economy has lost momentum as the stimulus from a $1.5 trillion tax cut package fades, businesses are still short workers.

March’s employment report is scheduled for release on Friday.

According to a Reuters survey of economists, nonfarm payrolls likely increased by 180,000 jobs last month after a meager 20,000 in February, which was seen as pay-back after robust gains in the prior two months.

The unemployment rate is forecast unchanged at 3.8 percent

Source: US weekly jobless claims drop to the lowest level since 1969

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