Figures posed new hopes for the housing sector as sales of new homes increased in April to 2nd highest level since the summer of 2008. The median price for new homes also it new high. On Thursday, the Labor department announced that the 4-week average unemployment claims decreased by mere 500 to 339,500. The figures are close to 5-year low of 338,000. The 4-week average is 9% lower compared to that of the last November.
There exist a co-relation between the number of unemployment claims and the job growth and there’s has been a steady job growth rate in the past 6 months. An average of 208,000 jobs is added per day in the last 6 months.
In excess of 4.7 million US citizens received unemployment benefits during the week that ended on May 4 which is a 23 percent decline from 6.2 million a year back.