The economy is off to a fast start in 2012.

The number of people seeking unemployment benefits plummeted last week to 352,000, the fewest since April 2008. The decline added to evidence that the job market is strengthening.

U.S. factories are roaring back from the depths of the recession, cranking out more machinery, vehicles and energy.

Applications for weekly unemployment benefits spiked last week, largely because companies let go of thousands of workers after the holiday season.

U.S. employers stepped up their hiring in November, though they advertised fewer jobs for a second straight month. The mixed data suggest the job market has strengthened but employers remain cautious.

A burst of hiring in December pushed the unemployment rate to its lowest level in nearly three years, giving the economy a boost at the end of 2011.

The number of people seeking unemployment benefits fell further last week, ending the year on a three-month run of declines that point to stronger hiring in 2012.

Manufacturing grew in December at the fastest pace in six months and hiring at U.S. factories picked up. The data helped bolster the view that the economy gained momentum at the end of last year.