There were fewer jobless claims during the week ending February 11, according to a recent report from the Department of Labor.
As a greater number of Americans are able to find steady employment in an unstable economic climate, this could be positive news for the housing market, as more prospective borrowers may be able to meet stricter guidelines related to lending regulation.
The report indicated that initial jobless claims dipped 3.6 percent from the previous week, as the rate fell to the lowest level recorded in nearly four years. During the week, there were an estimated 348,000 claims, down from a previous level of 361,000.
This finding was surprising to a number of industry analysts, as a recent survey conducted by Econoday anticipated 365,000 jobless claims after recording a range of estimated between 355,000 and 370,000.
Meanwhile, an earlier report from the Labor Department found that the nation's economy added 243,000 new jobs in January, pushing the unemployment rate to 8.3 percent - the lowest recorded level since February 2009.