Housing, labor data provide upbeat signs on economy


By Lucia Mutikani – The number of Americans filing new claims for unemployment benefits tumbled to a five-year low last week, a hopeful sign for the sluggish labor market.

“This is a good sign for the January nonfarm payrolls,” said David Sloan, an economist at 4CAST in New York.

While last week’s decline ended four straight weeks of increases, it may not signal a material shift in labor market conditions as claims tend to be very volatile around this time of the year. more> http://tinyurl.com/b5374nu

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