Jobless claims hit four-year low

The U.S. jobs market signals signs of improving according to new Labor Department figures that show jobless claims fell to 348,000 last week, the lowest levels since February 2008, Bloomberg News reports. The number of people collecting unemployment and extended benefits also declined. From the Bloomberg article:

Dismissals have been waning and reports show companies are becoming more willing to expand workforces amid evidence sales are improving. Employment growth will help spur consumer spending, which accounts for about 70 percent of the economy.

“This is consistent with gradual improvement in labor market conditions,” said Brian Jones, a senior U.S. economist at Societe Generale in New York, who correctly projected the level of claims. “It’s good for consumer spending.”

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About Stephanie Sievers

Stephanie Sievers is Senior Editor for the Illinois Association of REALTORS®. She serves as Senior Editor for IAR publications including the Illinois REALTOR® magazine and all other IAR publications. She is responsible for developing content for the Illinois REALTOR® Weekly Connection e-newsletter, coordinates the IAR Twitter account content at ILREALTOR and plans and develops content for videos. She assists in developing and writing content for the IAR blog. She also is involved in researching and drafting news releases and coordinates the news media distribution database and newsclips reports for the Association. She also assists in IAR spokesperson training seminars and is involved in development of association briefing materials on issues. She assists with the housing statistics program and reports.

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