Jobless claims fall to five-year low
Real estate agents and lenders finally have an economy with some zest to it and job stability, although nothing is set in stone.
According to Bloomberg, jobless claims posted a new five-year low. The number of claims for the week ending Aug. 17 declined to 330,500.
Firings are waning as employers hold on to workers to meet sales, which may be a precursor to bigger gains in payrolls once the effects of federal budget cuts and higher payroll taxes fades in the second half of 2013. Growth in employment, together with rising incomes, will help buoy consumer confidence and spending, which accounts for about 70% of the economy.