Today's economic news was more good news for the economy as a whole and for American workers. The count of Americans filing for unemployment benefits plunged to the lowest level since January 2001. Worker productivity -- how much each employee produces for an hour of work -- soared to an 8.1% annual rate for July through September. Gross domestic product, a measure of overall U.S. economic activity, grew at an astounding 7.2% in July, August, and September; the best growth rate in 19 years. These numbers are part of a long-term trend proving that the U.S. economy is healing and growing.

According to JP Morgan economist Robert Mellman,

With profit margins rising and firms feeling more optimistic about the future, they are in a position to start to hire.

According to Bloomberg,

By keeping labor costs from rising, productivity improvements are helping to keep inflation low. That suggests Federal Reserve policy makers will hold their target interest rate steady at least through the middle of next year...

Low inflation and low interest rates means lower borrowing costs for consumers (e.g., home mortgages) and businesses (e.g., borrowing to buy a new computer network). Low inflation also means prices for consumer and business goods stay down.

There's more than meets the eye to the economic bubble of the 90's, and the current recovery from the burst of the bubble in 2000 and 2001. Our economy is changing for the better. More and more workers are demanding a higher quality of life from their employers -- or they a just starting their own businesses. A great article entitled "Creative destruction" appeared on CNN Money today which discusses these seismic shifts.

I myself discussed how the city of Dayton, Ohio was trying to adapt to the demands of the "creative class," a group of people who want freedom and enjoyment in their work lives.

Not only is the economy improving by the numbers, its quality in improving. Remember that you create your own reality. The key is to create a positive one. ;-)