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By Tammy Bruce
Topic - Jonathan Basile
The number of Americans seeking unemployment benefits dropped 9,000 last week to a seasonally adjusted 323,000, near the lowest level since June 2008. The figure shows employers are laying off fewer and fewer workers, an encouraging sign one day before the government will issue its August jobs report.
Sales of previously occupied U.S. homes ticked up last month to the highest level in 3½ years, helped by a jump in the number of houses for sale.
U.S. builders started work on fewer homes in March after they sharply cut back on apartment construction. But builders requested the most permits for future projects in 3½ years, suggesting many anticipate the housing market could improve over the next year.
"Firms continue to be less concerned about cutting labor costs and may be more comfortable with raising them," said Jonathan Basile, an economist at Credit Suisse.
"Sellers want to sell in a rising market," said Jonathan Basile, an economist at Credit Suisse. "When more sellers come out and sell, they'll also have to buy."