Jobless claims for the week ended January 14, 2012, plunged by 50,000 to 352,000, their lowest level since April 2008, against expectation of 384,000. The four-week moving average of new jobless claims also decreased by 3,500 to 379,000.
The numbers further affirm the view that the economy is now on the slow recovery path as the pace of layoffs is slowing and companies are more inclined to hire new workers now.
