In a positive sign that the United States economy and job markets are improving, the number of people applying for unemployment recently reached its lowest number in seven weeks.
According to USA Today, a Labor Department report was released Wednesday that shows the jobless claim dropped to 9,000 applications last week.
The four-week average also plunged from 8,500 to 290,250 claims, a mere 16 percent within the past year.
This reading, according to Wall Street Hedge, is the lowest reading that was recorded since the beginning of November.
The report was released shortly after the United States government stated that the country’s economy was growing at its fastest rate in 11 years.
Along with the optimistic look that unemployment is steadily decreasing, USA Today also reports that employer’s added 321,000 jobs in November, which was the highest number, recorded in almost three years.
The Wall Street Journal, also reports that roughly two million fewer Americans compared to last year are receiving unemployment benefits due to an improving labor market and reduced layoffs.