Hope and change: Unemployment applications lowest since 2008

First-time applications for unemployment benefits fell 4,000 to a seasonally adjusted 364,000, the Labor Department said Thursday. It was the third straight weekly drop.

The four-week moving average, a less volatile gauge, fell for the 11th time in 13 weeks. At 380,250, it’s the lowest since June 2008. Applications generally must fall below 375,000 – consistently – before hiring is strong enough to reduce the unemployment rate…

The declining number of applications suggests that the economy may finally be regaining strength, 2 1/2 years after the Great Recession ended. The nation added at least 100,000 jobs every month from July through November, the first five-month streak since 2006.