The Department of Labor announced today that the number of unemployment claims has dropped to a nearly four-year low, welcome news to a market looking to shake off the cloak of a sluggish economy. The Dow (INDEX: ^DJI) did its part by cheerfully taking the hint to climb throughout the morning, fueled in addition by an extremely positive earnings report from Bank of America
While falling unemployment numbers are a possible precursor to a wave of hiring, it will be a long road back to pre-recession levels. But for now, these new numbers are a pretty solid move in the right direction.
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