Job seekers lined up at a job fair in Portland, Ore., earlier this week. A Labor Department report yesterday said unemployment applications fell to the lowest level since March 2008.
(Rick Bowmer/Associated Press)
Jobless claims near 4-year low
Report lifts hopes on economy, housing market
Job seekers lined up at a job fair in Portland, Ore., earlier this week. A Labor Department report yesterday said unemployment applications fell to the lowest level since March 2008.
(Rick Bowmer/Associated Press)
The healthier job market that’s lifted the economy in recent months shows no signs of slowing. Applications for unemployment aid are near a four-year low, raising expectations of further hiring gains. The news yesterday helped catapult the Dow to its highest close since May 2008. More jobs and tame inflation are giving consumers more buying power. Their higher spending could further boost growth and lower the unemployment rate for February for a sixth straight month. Even the troubled housing market is benefiting. Builders expect improved sales in the near future. In response, they are planning to break ground on more homes.
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