POSTED: Friday, February 11, 2011 - 10:08am
UPDATED: Friday, February 11, 2011 - 10:12am
The number of people applying for unemployment benefits dropped last week, to the lowest level in nearly three years.
The news, boosting hopes that companies will hire more people as the economy continues to improve.
According to the Labor Department, applications dropped by 36,000 to 383,000-- that's the lowest point since July 2008.
The latest numbers come right after last week's report showed the economy added 36,000 jobs in January.