Jobless Claims fell by more than 15,000 to 372,000, beating the consensus of 375,000 and besting last week’s upwardly revised 387,000.
The 4-week average fell as well to 373,250, the best reading in 3 1/2 years.
Coming on the heels of today’s strong ADP report, recent jobs numbers are painting a picture of an economy on the mend. An anemic jobs market, as we exited the financial crisis, has hobbled the recovery. Now at long last, it looks like we’re seeing the traction in the labor force to begin the next leg up in the US economic expansion. Can housing be far behind?
All eyes will turn to tomorrow’s Employment Report. But in the meantime, we can all feel good about today’s numbers.
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