Data suggest more opportunities are available to some groups that historically struggled to find jobs
The unemployment rate among young Americans fell to its lowest level in more than 50 years this summer, though the share of young people looking for work remained well below its peak in 1989.
Of Americans between 16 and 24 years old actively looking for work this summer, 9.2% were unemployed in July, the Labor Department said Thursday, a drop from the 9.6% youth unemployment rate in July 2017. It was the lowest midsummer joblessness rate for youth since July 1966.
Walmart executives believe that the economy is the best for their customers in decades, according to an analyst who spoke with Bloomberg News’ Joe Weisenthal.
Scott Mushkin, retail analyst at Wolfe Research, just said on #WDYM that based on his conversations, Walmart executives believe that right now is the best economy for their customers that they've seen in two decades.
— Joe Weisenthal (@TheStalwart) August 16, 2018
White House economic adviser Larry Kudlow said the “single biggest event” of 2018 is “an economic boom that most people thought would be impossible.”
Addressing reporters in Washington, Kudlow said President Trump’s policies have led to a positive economic outlook.
In a “Fox & Friends” interview earlier Thursday, he said that the Obama White House “mantra” was that America could never surpass 2 percent gross domestic product (GDP) growth.
“Now we are growing at 4 percent, and they’re saying Obama should take credit. In other words, we couldn’t grow at 2, but uh-oh we just doubled that to 4, so we’re going to give credit to our man, No way,” Kudlow said.
He said Trump deserves credit for lowering tax rates and removing regulations on business.