http://hosted.ap.org/dynamic/stories/U/US_ECONOMY?SITE=ILKAN&SECTION=HOME&TEMPLATE=DEFAULTDec 24, 12:56 PM EST
WASHINGTON (AP) -- 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 a 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.
And the four-week average for claims, which smooths out fluctuations, fell to 465,250 - the 16th straight weekly decline.