Trump economic advisor and FreedomWorks economist Stephen Moore shares his views on the latest stimulus package.
The number of Americans applying for unemployment insurance for the first time fell last week, despite an increase in COVID-19 infections and new restrictions to help stem the spread of the virus weighed heavily on the economy.
Figures released on Thursday by the Department of Labor show that 787,000 Americans filed for unemployment benefits for the first time in the week ending January 2, down from the 800,000 forecast by Refinitiv economists.
The figure is almost four times the pre-crisis level, but it is well below the peak of almost 7 million that was reached when requests to stay at home were first issued in March. Nearly 70 million Americans, or about 40% of the workforce, applied for unemployment insurance during the pandemic.
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