WASHINGTON (AP) — Consumer spending and incomes barely rose last month. Business investment has slowed. New-home sales remain dismal.
Despite all that, some economists say a brightening job market is lifting their hopes for 2012. More aggressive hiring, the thinking goes, would fuel enough spending to boost the economy.
Economists point to another drop reported this week in applications for unemployment benefits, the third straight decline. Applications are now at their lowest level since April 2008. The trend is signaling that layoffs have all but stalled and that employers may be ready to step up hiring.
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