WASHINGTON ¨C The number of Americans filing new claims for unemployment benefits fell last week and job cuts declined sharply in December, suggesting the labor market is tightening.
Thursday¡¯s reports support views of faster growth this year, driven by consumer spending, despite a faltering global economy.
¡°Labor market conditions continue to improve, providing support for consumers and contributing to a virtuous cycle for the economy,¡± said Jim Baird, chief investment officer at Plante Moran Financial Advisors in Kalamazoo, Michigan.
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