Jobless claims drop
Published 12:01 am Friday, September 10, 2010
WASHINGTON (AP) — No, the economy isn’t roaring ahead. And no, companies aren’t making lots of job offers. But a fresh batch of economic data Thursday at least eased summertime fears that the economy might be on the brink of another recession.
Far fewer people applied for unemployment aid last week, suggesting layoffs are easing. And the nation’s trade deficit narrowed in July, thanks to a bigger appetite overseas for American exports.
Other recent data support the notion that the economy, while growing only fitfully, is at least not in danger of stalling:
— Hiring by private companies over the summer turned out to be better than expected. The pace still isn’t enough to bring down high unemployment, but it indicates economic expansion.
— Stock prices have staged a September rally and put the Dow Jones industrial average back about even for 2010. Stocks posted their sixth gain in the past seven days Thursday, a sign of rising investor confidence.