Initial Jobless Claims Drop to One Year Low

Is there light at the end of the tunnel? Let’s cross our fingers.

This past four weeks has seen fewer Americans sign up for jobless benefits as figures have shown that executives are becoming more and more confident about economic recovery.

This past 4 week average has declined to 473,750 from the previous 4 week average of 481,500, based on Labor Dept. figures. Since December 2007 (when the recession began), our economy has shed some 7.2 million jobs. This improvement is a pretty good indication that companies will begin hiring again soon, which will fuel consumer spending and lead to sustained economic recovery.

Another good sign came today from the Commerce Department which reported that the U.S. trade deficit unexpectedly shrank 7.6 percent in October and is much smaller than economist predicted.

Of course it is still too early to break out the party favors, but these signs could be a telling indicator that economic recovery may be gaining steam.