Are things getting better in the economy? Seems that way. Here’s proof.
The Labor Department said Thursday that weekly unemployment benefit applications dropped 5,000 to a seasonally adjusted 330,000. That’s the fewest since January 2008.
The four-week average, a less volatile measure, fell to 351,750. That’s also the lowest in nearly five years.
The decline may reflect the government’s difficulty adjusting its numbers to account for layoffs after the holiday shopping season. Layoffs spike in the second week of January and then plummet. The department seeks to adjust for those seasonal trends, but the figures can still be volatile.
If the trend holds up, fewer applications would suggest the job market is improving.
And this. Despite shares in Apple falling over 12% on Thursday, the market still closed today at record highs.
The bull market kept its momentum Friday as the Standard & Poor’s 500 index closed above 1,500 for the first time since Dec. 10, 2007, and the Dow Jones industrial average finished less than 30 points from breaking 14,000.
It was the fourth straight week that Wall Street’s three major indexes finished higher, with the S&P 500 and the Dow hitting new five-year highs again.
Yep! I’ll say that things are definitely getting better. 🙂