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Jobless Claims Dropped Last Week

Business News

0  Updated at 1:11 pm, May 23rd, 2013 By: ABC Digital
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Tim Boyle/Getty Images(WASHINGTON) — A report from the U.S. Department of Labor on Thursday showed jobless claims dropping for the week. The number of people applying for unemployment benefits fell 23,000 to a level consistent with solid job growth.

The four-week average of those applying for unemployment benefits ticked down just 500 to 339,500.   These claims figures are one indicator of a strengthening job market.

The jobs market still has a ways to go — employers need to add thousands of more jobs to significantly bring the unemployment rate down.

The housing recovery, though, is playing its part in the job market; the demand for new construction means there will be more jobs created in this sector.

Housing is one part of the massive U.S. economy.  To have a truly convincing recovery there needs to be similarly good news from other parts of the economy.

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