Analysts expect the labor market to remain weak for the most of this year with companies reluctant to hire new workers until an economic recovery is well under way. And the latest housing data show the slump in that market, a major factor in triggering the recession, has yet to hit bottom.
Still, economists found some silver linings. For the second straight week the number of people filing new benefits claims dropped more than expected, and single-family home construction, while depressed, appears to be leveling off.
The Labor Department said Thursday that its tally of initial unemployment claims dropped to a seasonally adjusted 610,000 from a revised 663,000 the previous week. That was significantly below analysts' expectations of 655,000 and the lowest level since late January.
Source: http://www.examiner.com/a-1964388~Jobless_claims_top_6M__housing_starts_plummet.html?cid=rss-Top_News# 
