(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.
Copyright 2013 ABC News Radio
James Hanlon, CNN
Billy Hallowell, Deseret News
Stephan Rockefeller, EastIdahoNews.com