Jobless Claims Drop; Economists Rejoice

job searchGood news on the job market front! The number of Americans filing for unemployment benefits dropped last week.

For the week ending December 13, the fewest claims were made since early November, according to the Department of Labor. The magic number was 289,000 and we simply have to mention claims have been less than 300,000 for the past 14 weeks!

This means just what you think — employers aren’t giving pink slips as fast and furiously as they previously were and hiring is as its strongest since 1999.

According to a piece on Bloomberg, Stephen Stanley indicated, “Labor demand has in fact picked up a bit.”

The chief economist at Amherst Pierpont Securities mentioned in a research note, “Chair Yellen set continued improvement in labor market conditions as the key requirement to justify liftoff at some point next year, and the data continue to support that scenario.”