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The number of people seeking U.S. unemployment benefits dropped last week to the lowest level in four years, adding to evidence that the job market is strengthening.

The economy expanded as expected in the fourth quarter while personal income grew at a much faster pace than previously thought, which should help underpin spending this quarter.

New claims for unemployment benefits dropped to a fresh four-year low last week, according to a government report on Thursday that offered evidence the jobs market recovery was gaining traction.

U.S. home sales are gradually coming back. A mild winter and a stronger job market have helped boost sales ahead of the crucial spring buying season.

The global economy has stepped back from the brink of danger and signs of stabilization are emerging from the euro zone and the United States, but high debt levels in developed markets and rising oil prices are key risks ahead, the IMF said on Sunday.

The euro zone is showing tentative signs of improvement, the latest monthly readout from the Organization for Economic Co-operation and Development (OECD) showed on Monday.

In yet another sign of a strengthening recovery, the United States added 227,000 net jobs in February, the third consecutive month of gains over 200,000. The unemployment rate was unchanged from 8.3 percent in January, the Labor Department reported Friday, as nearly a half million people who had been staying on the sidelines rejoined the search for work. The strong job growth numbers could bolster President Obama’s effort to make the case to voters that his economic policies are working.

New claims for unemployment benefits rose in the latest week, but not by enough to shake the conviction that the job market is still healing.

The nation’s banks and credit unions had their best year since 2006, as a slowly recovering economy led to modest loan growth and lower levels of nonperforming loans.

The pace of job creation by private employers accelerated more than expected in February, a report by a payrolls processor showed on Wednesday.