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Jobless Claims Drops By 12,000

According to the labor department, the number of jobless claims dropped by 12,000 to 234,000 for the week ending February 4th.

Claims have now remained below 300,000, a threshold associated with a strong labor market, for 101 straight weeks.

That is the longest stretch since 1970 when the labor market was much smaller.

Despite the recovery, real earnings still aren't increasing as much as they were at the beginning of the Great Recession. U.S. Bureau of Labor and Statistics

Despite the economic recovery since the 2008 recession, wage growth has remained stubbornly sluggish for American workers.