Jobless claims lowest in 5 years

The number of people seeking unemployment aid fell last to the lowest level in 5 years. The Labor Department reported benefit applications dropped by 5,000 to 330,000. the lowest point since January 2008. The four week average fell to 351,750, also the lowest in nearly 5 years. Employers added an average of 153,000 job a month last year pushing the unemployment rate down .7 percentage points to 7.8 percent. It was noted the recovering housing market is having a significant impact fueling these positive results.