After last week's tremendous jobs report, there's another bit of good bit of news from the Bureau of Labor Statistics today. Per the Associated Press, weekly applications for unemployment benefits fell to its lowest level since April 2008, dropping by 15,000 to 358,000 applicants.
"The four-week average, a less volatile measure, fell to 366,250, the lowest since late April 2008," writes the AP's Christopher S. Rugaber. "When applications fall consistently below 375,000, it usually signals that hiring is strong enough to lower the unemployment rate."
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