Drop in filings for benefits points to firming U.S. jobs market

05/9/2013 | Bloomberg

U.S. applications for initial unemployment benefits dropped last week, and the more indicative four-week running average reached its lowest point since before the recession that launched the current downturn. A separate measure of consumer confidence, meanwhile, remained elevated. Combined, the two numbers suggest employers have cut staffing to the point that they may soon need to start hiring as the domestic economy gathers strength.

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