Jobless Claims fell -6,000 to 357,000, beating estimates calling for a rise to 360,000.
This was the best reading since April 2008, before the worst of the crisis took hold, showing that the economy indeed is on the mend with the jobs market slowly but surely getting stronger.
The four-week average was also down, dropping -4,250 at 361,750.
It's no coincidence to me that both jobless claims and the market are hitting their best levels since the recovery began. And this is very encouraging. Especially when you consider the gains that have been seen in the last few years have been made while new jobs have been largely absent.
The improvements in the labor force (less firing and more hiring) will go a long way in the continued economic recovery, and ultimately should help usher in new highs for the market.
Let's hope tomorrow's Employment Situation Report keeps that party going.