Jobless claims at 4 year low

I guess it just goes to show that the American economy can withstand incompetence, cronyism, corruption, and redistributionist idiocy and still struggle to make a comeback. Reuters: The number of Americans filing new claims for unemployment benefits unexpectedly fell last week to a near four-year low, suggesting the labor market recovery was gaining steam. Other government data on Thursday also pointed to sustained momentum in the economy, with builders breaking more ground on new residential projects in January and little signs of a pick-up in inflation pressures. "The job market is getting better and that's really key. We're still in the early innings of this but I'm glad to see another data point that adds to the picture of an improving economy," said Kevin Caron, market strategist at Stifel, Nicolaus & Co in Florham Park, New Jersey Initial claims for state unemployment benefits dropped 13,000 to a seasonally adjusted 348,000, the Labor Department said, the lowest...(Read Full Post)