[At] long last, the American economy is growing again. Jobs, however, are still tricky to come by. Initial jobless claims declined by 1,000 from the previous week, but remain 10,000 about their level on October 10. Continuing claims fell to their lowest level since March, but this primarily reflects the exhaustion of benefits; workers receiving extended benefits are not counted in the total. So while the end to contraction has stopped the labour market bleeding, recovery has yet to begin the healing. Growth is good, but absent job creation it is difficult to get too excited.
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