First Time Unemployment Claims -- New Four Year Low

The "magic number" is 400,000.

Link here.

Initial claims for state unemployment benefits fell 5,000 to a seasonally adjusted 348,000, the lowest level since February 2008.

The prior week's figure was revised up to 353,000 from the previously reported 351,000.

The four-week moving average for new claims, considered a better measure of labor market trends, declined 1,250 to 355,000.