Hot finance topics

A fitful economic recovery is drawing strength from a stabilizing job market and signs that manufacturing will contribute to the rebound.

The latest sign was a government report Thursday that the number of newly laid-off workers filing claims for unemployment benefits fell more than expected last week. And the four-week average for claims, which smooths out fluctuations, fell for the 16th straight week, to its lowest point since September 2008, when the financial crisis hit with full force.

Further evidence of a gradually healing economy was a report that orders to U.S. factories for big-ticket durable goods rose in November. The overall increase was less than expected. But excluding the volatile transportation category, the gains were twice what economists had forecast.

The Labor Department said the number of new jobless claims fell to 452,000 last week, down 28,000 from the previous week, on a seasonally adjusted basis. That’s a better performance than the decline to 470,000 that economists had expected easy fast payday loans.

And the four-week average for claims, which smooths out fluctuations, fell to 465,250 — the 16th straight weekly decline.

The government said the number of people continuing to receive regular jobless benefits fell by 127,000 to 5.08 million for the week ending Dec. 12.

The number of people receiving extended benefits jumped to 4.37 million for the week ending Dec. 5, an increase of 141,807 from the previous week.

The Commerce Department said orders for durable goods edged up 0.2 percent last month, weaker than the 0.5 percent gain economists had expected. But excluding transportation, orders rose 2 percent over the October level, double what economists had forecast.

Source