WASHINGTON Fresh evidence indicates that the labor market is continuing to heal and that there's stronger economic growth supporting new hiring than the most obvious numbers might suggest.
The Labor Department said Thursday that new claims for unemployment benefits dipped last week to 359,000 the lowest level since April 2008. Jobless claims have been moving steadily lower in recent weeks amid other signs that the job market is gaining strength.
Separately, the Commerce Department said Thursday that its latest tally of the nation's gross domestic product, the total value of goods and services produced, showed a solid 3% annualized increase in the fourth quarter last year.
That's unchanged from its previous estimate, but the new report showed gross domestic income another broad but less commonly cited measure of economic activity jumped at a much higher annualized rate of 4.4% in that quarter.
New claims for jobless benefits drop; GDP grows at solid pace - latimes.com
The Labor Department said Thursday that new claims for unemployment benefits dipped last week to 359,000 the lowest level since April 2008. Jobless claims have been moving steadily lower in recent weeks amid other signs that the job market is gaining strength.
Separately, the Commerce Department said Thursday that its latest tally of the nation's gross domestic product, the total value of goods and services produced, showed a solid 3% annualized increase in the fourth quarter last year.
That's unchanged from its previous estimate, but the new report showed gross domestic income another broad but less commonly cited measure of economic activity jumped at a much higher annualized rate of 4.4% in that quarter.
New claims for jobless benefits drop; GDP grows at solid pace - latimes.com