According to some economists, the July decrease in unemployment so that it was the lowest in two years suggests that the gradual improvement in the job market is continuing.
so that it was the lowest in two years
so that it was the lowest two-year rate
to what would be the lowest in two years
to a two-year low level
to the lowest level in two years
consider other uses of the adjective "two-year":
a two-year lease is a lease that LASTS for two years.
a two-year recession is a recession that LASTS for two years.
a two-year marriage ... etc. etc.
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