Belfast Telegraph

Trump remains confident of the US’s economic policies

By Donal O'Donovan

The number of Americans filing for unemployment benefits increased slightly last week, but remains at levels consistent with a tight labour market - a sign the economy there continues to grow and is still adding jobs.

US President Donald Trump, under siege in Washington, on Wednesday held a raucous political rally in Iowa, where he touted job gains and an improving stock market as evidence that his economic policies were working.

He also lauded his choice of super-wealthy economic appointees, such as his top economic adviser Gary Cohn, a former Goldman Sachs executive, and Commerce Secretary Wilbur Ross, a billionaire known for his investments in distressed assets, including Bank of Ireland.

"In those particular positions, I just don't want a poor person - does that make sense?" Trump asked supporters. "All we do is win, win, win," he added.

Initial claims for US state unemployment benefits increased 3,000 to a seasonally adjusted 241,000 for the week ending June 17, the Labor Department said yesterday. Economists polled by Reuters forecast first-time applications for jobless claims rising to 240,000.

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