Economy brightens as consumers spend, layoffs slow

Economic reports Thursday suggest employers are laying off fewer workers, businesses are ordering more computers and appliances, and consumers are spending more confidently.

Combined, the latest data confirm that the economy is improving, even though too few jobs are being created to lower the 9.8 percent unemployment rate.

Yahoo! BuzzThe number of people seeking unemployment benefits edged down by 3,000 to a seasonally adjusted 420,000, the Labor Department said. That was the second drop in three weeks.

Weekly unemployment applications at around 425,000 signal modest job growth. But economists say the number would need to dip consistently to 375,000 or below to indicate a significant decline in unemployment. Weekly applications peaked during the recession at 651,000 in March 2009

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- Posted: 2010-12-23 11:13:49

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