Jobless claims drop to lowest level in nearly 45 years

Washington Examiner reports that “new applications for unemployment insurance benefits plunged by 41,000 to 220,000 in the second week of 2018, the Labor Department reported Thursday”—the lowest level they’ve reached in nearly 45 years. “Low jobless claims are a good sign because they suggest that layoffs are relatively scarce,” Joseph Lawler writes.

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According to Federal Reserve data reported by Bloomberg, “U.S. factory production rose for a fourth straight month in December, capping the strongest quarter since 2010 and underscoring a resurgence in manufacturing that’s primed for further advances.” What’s driving the uptick? “Stronger consumer spending, increased business investment and more shipments of merchandise to overseas customers are providing plenty of fuel for the nation’s producers,” Katia Dmitrieva writes.

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Christopher Buskirk writes in USA Today that President Donald J. Trump’s first year in office has been a story of promises kept. “By every measure of personal and national prosperity, the nation is better off than it was a year ago, and it's thanks to the integrity of our leader,” Buskirk writes.

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In Washington Examiner, Paul Bedard explains that Budget Director Mick Mulvaney is looking out for American taxpayers as he skips “the usual ask for millions of dollars to run the Consumer Financial Protection Bureau he is temporarily running.” Bedard writes that this move is “just the latest one by Mulvaney to lead the administration’s efforts to cut spending, trim waste, reduce regulations and slim down the federal workforce.”