Consumer Spending Rebounds, as Jobless Claims Fall

[jpak]

http://online.wsj.com/article/SB125915500754163841.html?mod=WSJ_hpp_LEFTWhatsNewsCollection

Consumer spending and incomes rose in October, while initial jobless claims fell under 500,000 last week to the lowest level since September of 2008, boding well for economic growth in the fourth quarter.

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Commerce Department data Wednesday showed spending last month rose by 0.7% compared with a September decline of 0.6%, while personal income rose by 0.2% for the second straight month.

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In a glimmer of hope for the labor market, the number of U.S. workers filing new claims for jobless benefits last week fell to the lowest level since September of 2008. Total claims lasting more than one week, meanwhile, also decreased.

Initial claims for jobless benefits declined by 35,000 to 466,000 in the week ended Nov. 21, the Labor Department said in its weekly report Wednesday. The previous week's level was revised to 501,000 from 505,000. This represents the lowest figure for claims since September 13, 2008 and it is the first time initial claims have fallen below the 500,000 mark since early January, according to Labor Department data.

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[jpak]

1. *sniff* - is this the beginning of the end of Doom as we know it?

:cry: