This means the jobs market could finally be picking up. But a special thanks to all those impatient Americans who thought the economy could be fixed in two years:
The number of first-time filers for unemployment benefits fell by 24,000 in the latest week to the lowest level in nearly four months, the Labor Department reported Wednesday.
The number of initial filings fell to 435,000 in the week ended Nov. 6 from 459,000 the week before, the Labor Department said. The number was far better than the 450,000 economists surveyed by Briefing.com expected.
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Taken with other positive economic indicators, there is a case to be made that the drop might stick this time, said Mark Vitner, managing director and senior economist at Wells Fargo.
"There seems to be some improvement in private sector payrolls and it seems that businesses are more inclined to hire folks," Vitner said. "But at the end of the day ... we are still at a very high level."
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