SIGNS OF LIFE

U.S. Sees Largest Dip in Weekly Unemployment Claims in More Than 50 Years

Consumer spending also increased at its fastest rate since March.

Weekly unemployment claims fell to 199,000, the Labor Department said Wednesday, marking the lowest rate of jobless claims in more than 50 years. The department also said consumer spending was up by 1.3 percent, the fastest rate since March. The statistics are two small glimmers of hope amid an uncertain economy, and one that comes after the U.S. posted a large job increase after months of timid boosts. “The economy is much stronger than what we had originally understood,” Joe Brusuelas, chief economist at consulting firm RSM, told The Washington Post. “The U.S. economy is booming right now. Despite the increase in inflation.” The decline came during the week of Nov. 20, which saw a 71,000-claim decrease. “It is fair to say we didn’t see that coming,” Bankrate analyst at Mark Hamrick wrote to the Post.