Unemployment-benefit applications were up by 15,000 last week to a seasonally adjusted 381,000, while the four-week average decreased to 375,000, the lowest level since June 2008, according to the Labor Department. "Despite the rise in the weekly claims data, the longer-term trend ... suggests that the recovery in the labor market is maintaining its momentum," Barclays Capital economist Michael Gapen wrote in a note to clients.

Related Summaries