Jobless claims dip, consumer spending rises

[Freddie Stubbs]

Source: Reuters

(Reuters) - New claims for jobless benefits dipped last week and consumer spending increased in November for a fifth straight month, reinforcing views of a solid economic growth pace in the fourth quarter.

Further signs that the economy gained momentum as the year ended also were offered by other data on Thursday showing gains in orders for a range of long-lasting manufactured goods and in new home sales last month.

"The data releases today support our estimate that GDP growth probably accelerated to between 3.5 percent and 4.0 percent annualized in the fourth quarter," said Paul Ashworth, senior U.S. economist at Capital Economics in Toronto.

Initial jobless claims fell 3,000 to a seasonally adjusted 420,000, the Labor Department said, matching economists' expectations.

Read more: http://www.reuters.com/article/idUSTRE6BM24V20101223

[ClarkUSA]

1. A 99er I know got a decent job in his industry this month.

They are hiring 100 more people in his company at the moment.

[old mark]

2. K&R - Now watch the GOP take credit for any good news...nt

[nyy1998]

3. Good news, especially for those of us looking for a job!