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There were 320,000 first-time claims for unemployment insurance filed last week, the Employment and Training Administration reports.

Not only is that 15,000 fewer than had been filed the week before, it's also the lowest number for any single week since before the U.S. economy officially slipped into its most recent recession in December 2007.

According to historical data kept by the agency, the last time claims for jobless benefits were lower in any single week was in October 2007. The last time claims for a single week were within a couple thousand of last week's level was in January 2008, just after the recession began, when they totaled 322,000 one week and 321,000 the next.

During the recession, which officially ended in June 2009, claims reached a peak of 670,000 one week in March 2009. For most of the past two years, they stayed in a range of 350,000 to 400,000 per week.

Bloomberg News says the decline last week signals that "the U.S. job market continues to mend."

Reuters writes that the data are "hinting at a pick-up in job growth in early August." It also notes that:

"The four-week moving average for new claims, which irons out week-to-week volatility, fell 4,000 to 332,000, the lowest level since November 2007."

"It's difficult to see a path out of this crisis, at least not without more people dying."

That's how NPR's Cairo bureau chief, Leila Fadel, ended her Morning Edition report Thursday. After Wednesday's deadly crackdown by the army on supporters of ousted President Mohammed Morsi — a crackdown that according to latest estimates left more than 500 people dead and 3,500 or so wounded — the fear is that there will be much more bloodshed.

"It's difficult to see a path out of this crisis, at least not without more people dying."

That's how NPR's Cairo bureau chief, Leila Fadel, ended her Morning Edition report Thursday. After Wednesday's deadly crackdown by the army on supporters of ousted President Mohammed Morsi — a crackdown that according to latest estimates left more than 500 people dead and 3,500 or so wounded — the fear is that there will be much more bloodshed.

Six years ago, the U.S. housing market plunged off a cliff. Now prices are bouncing back up — sharply in many markets.

That has some real estate analysts saying 2013 may mark the turning point — when pent-up demand will revive the housing sector and boost the broader economy.

The optimists say millions of Americans have been living with relatives or renting for years now, trying to ride out the Great Recession and the slow recovery. At this point, many are ready to buy homes of their own.

If that theory turns out to be right, the home-sales boom could lead to new jobs in construction, landscaping, drapery hanging, furniture making, lending and much more.

A Housing Resurgence?

The reasons for optimism are compelling:

— Census data show that the number of such multigenerational households of adults rose from 46.5 million in 2007 to 51.4 million by the end of 2009 — a 10.5 percent jump over just three years. That means millions of young adults are still living with their parents, and may be eager to move out.

— Rents are high. RealFacts LLC said that its most recent survey shows that out of 41 markets, rents were up in 39 and remained flat in two.

— Even as rents rise, homes remain affordable in most markets because prices are well below peak levels and interest rates remain low by historic standards.

— Overall household debt has declined to the lowest level since 2006, according to a new study by the Federal Reserve Bank of New York. That means more people are in better financial shape to buy a house.

In light of all those factors, "there's pretty clearly a lot of pent-up demand," said Andrew Paciorek, an economist with the Federal Reserve Board in Washington.

His research shows that between 2006 and 2011, the number of Americans forming new households was less than half what it would have been under normal economic conditions. That rate of household formation represented "the lowest five-year period on record — at least back to the 1950s or so," he said.

His economic model predicts that the housing market will continue to see a steady boost as Americans finally shake off the recession and get back to forming new households.

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Housing Market Shows More Signs Of Life Aug. 10, 2013