CNBC’s Santelli Reacts to Pandemic-Low Jobless Claims: ‘That’s a Nice Thanksgiving Present!’

CNBC host Rick Santelli reacted with excitement to a slew of positive economic news that came out Wednesday, including a pandemic-low 199,000 initial jobless claims — the lowest since 1969.

Although inflation has been the top story in the economy for several months, Wednesday morning saw the release of several pieces of good economic news. CNBC anchor Becky Quick tossed to Santelli for his reaction as the numbers came in.

Santelli read the initial claims number first and said “Now that’s a nice Thanksgiving present! We breach two hundred thousand for the first time post-COVID.”

He had an even bigger reaction to the shrinking of the trade deficit, exclaiming “Wow! For October, this is really big news, we went from a record-setting getting close to minus $100 billion, in the high 90s, to minus $82.9 billion.”

“Now, granted, it isn’t great news, but it is very good news that it’s moved under 90 and so close to minus $80 billion, Santelli explained. The October deficit was also about $12 billion lower than expected, according to Econoday.

“With regard to wholesale inventories, they were up 2.2 percent. Anything with inventories is good. This is double expectations,” Santelli said.

Santelli ran through a host of other economic news, much of which exceeded expectations, and concluded by saying “A lot of data points there, Becky, but I think probably the best news is we’re moderating on price, moderating on deficits, and moving into new territory on initial claims.”

“Back to you, Becky, and I hope you and yours have a very happy healthy Thanksgiving,” Santelli said.

President Joe Biden took a victory lap about the news in a statement that the jobless numbers mean “More Americans are getting back to work and more Americans have money in their pockets, thanks to the American Rescue Plan and the vaccination campaign.”

Watch above via CNBC.