New jobless claims fall to 368,000

The low numbers offer another indication that 2011 could be a year of economic recovery, but most experts anticipate it still to be a long climb back from the depths of the recession.

On Wednesday, Federal Reserve Chairman Ben Bernanke told the House Financial Services Committee that the economy has grown for seven straight quarters, and that he expects that growth to continue, albeit not in leaps and bounds. Similarly, Fed officials reported cautious optimism across the board about the economy in their latest “beige book,” which was also released Wednesday.

However, the unemployment picture remains bleak from the Fed’s perspective, as Bernanke has repeatedly said that he expects it to take several years before the unemployment rate falls back to normal levels.