Happy Fourth of July! Here are 5 ways millions of Americans are being left behind by the strong economy

The economy is doing great, according to most estimates.

Initial jobless claims, a rough way to measure layoffs, fell by 8,000 to 221,000 in the week ending June 29, the Labor Department said Wednesday. However, the more stable monthly average of new claims rose by just 500 to 222,250. Still, that was not enough to put a dent in the strong labor market or break the record for the longest expansion on record. Mortgage rates have hit their lowest level this year.

But not everyone is A-OK. The Conference Board’s consumer confidence index fell to 121.5 in June from 131.3 in May, the lowest level since September 2017.

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