Texas job numbers remain strong

Another drop in the number of initial jobless claims across the country continues to give credence to the notion of an improving national economy.

Data from the Department of Labor showed that just 421,000 people filed for unemployment last week, a drop of 17,000 people compared to the week before. In addition, the four-week moving average for jobless claims fell to its lowest level since mid-2008, despite the lingering 9.8 percent unemployment rate.

"The labor market is moving in the right direction, slowly but surely," Ryan Sweet, a senior economist at Moody's Analytics, told Bloomberg.

Texas continued to lead the way for the national economy, as jobless claims in Texas alone dropped by more than 8,700 - the best of any state.

The Houston real estate market has also received a boost from recent job gains. Data from the Texas Workforce Commission released last month showed a second straight month during which local employers added jobs. The local unemployment rate was 8.2 percent during October, still lower than the 9.8 percent rate nationwide.