US Jobless Claims Rise 8,000 to 312,000

WASHINGTON (MarketWatch) - The number of people who applied for unemployment benefits rose last week but initial claims clung near a post-recession bottom, reflecting the low number of layoffs taking place in the U.S. economy. Initial jobless claims climbed by 8,000 to 312,000 in the week ended May 31, the Labor Department said Thursday. Economists polled by MarketWatch expected claims to total 311,000 on a seasonally adjusted basis. The average of new claims over the past month, a more stable measure that smooths out weekly gyrations, fell by 2,250 to 310,250, touching the lowest level since June 2007. The government also said continuing claims, or the number of people already receiving benefits, declined by 20,000 to 2.60 million in the week ended May 24. That's the fewest since October 2007. Initial claims from two weeks ago, meanwhile, were revised up to 304,000 from 300,000, based on more complete information collected by the states.

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Jobless claims rise slightly but remain low