Jobless claims fell to their lowest level in over two years at 388,000 for the week, below the 400,000 threshold needed for sustainable job creation. This confirms that the economy is improving as job creation is happening. At the height of the recession, jobless claims peaked at 651,000 in March 2009, showing the progress that has been made in recovering jobs lost during the economic downturn.

1. Daily Economic Update
December 30, 2010
 Good news for the economy. Jobless claims hit the lowest level in more than two years,
since July 2008 the Labor Department said today.
 Claims for the week were at 388,000—falling to a seasonally adjusted 34,000.
 Jobless claims need to be below 400,000 for job creation to happen at a sustainable level.
The report confirms that job creation is happening and the economy is improving.
 In context, during the height of the recession, jobless claims hit a peak of 651,000 in
March 2009.
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