More good news on the economy. There is still a very long way to go before it's a strong recovery, but it's hard to argue against the positive trend. (Not that some aren't trying to dismiss it.) Bloomberg:
Applications (INJCJC) for unemployment benefits dropped last week to the lowest level in four years, reinforcing signs the U.S. labor market is picking up.
Jobless claims decreased by 5,000 to 348,000 in the week ended March 17, the fewest since February 2008, Labor Department figures showed today in Washington. The median forecast of 46 economists in a Bloomberg News survey projected 350,000. The number of people on unemployment benefit rolls and those getting extended payments also fell.
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.