According to the Labor Department, job claims for January fell by 12,000, more than previously expected. Last month, the unemployment rate dropped to a three-year low of 8.5%. Economists say that the drop in unemployment claims is a good sign that the economy is beginning to recover, but that there is still a long way to go.
See "Jobless claims fall. jobs market slowly healing", Jason Lange and Emily Flitter, Reuters, February 1, 2012