Still, for all practical purposes, treading water:
First-time claims for jobless benefits increased by 10,000 to 383,000 in the week ended May 26 from a revised 373,000 the prior week, the Labor Department said today. The initial claims exceeded the median estimate of 370,000 in a Bloomberg News survey of economists. The number of people on unemployment benefit rolls dropped.
The four-week moving average, a less-volatile measure, rose to 374,500 from 370,750.
The number of people continuing to collect jobless benefits dropped by 36,000 in the week ended May 19 to 3.24 million. The continuing claims figure does not include the number of workers receiving extended benefits under federal programs.