Some Hopeful Signs for Jobs and Home Construction

The number of people applying for unemployment benefits fell last week to the lowest level since early April, a sign that layoffs were easing and that hiring might pick up. The New York Times The New York Times Separately, a Commerce Department report said that builders started slightly fewer homes in October but submitted plans for a wave of apartments, a mixed sign for the struggling housing market. Weekly applications for jobless benefits dropped by 5,000 to a seasonally adjusted 388,000, the Labor Department said Thursday. It was the fourth decline in five weeks. The four-week average, a less volatile measure, dropped to 396,750. That is the first time the average been below 400,000 in seven months. Applications need to consistently drop below 375,000 to signal sustained job gains. They have not fallen that low since February.

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