U.S. housing construction plunged to the second-lowest level on record
in March, possible evidence that the troubled housing sector has not
yet hit bottom.
Thursday's report from the Commerce Department says construction of new homes fell 10.8 percent last month.
If building continued at that pace for a whole year, only 510,000 homes would go up across the nation.
A
Labor Department report says the number of Americans getting long-term
unemployment aid hit yet another record-high, just above six million
last week.
But the job market's problems may be easing, as the
number of people signing up for first time jobless aid declined by
53,000 to a total of 610,000.
Some information for this report was provided by AP and Reuters.