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US jobless claims rise from 7-year low

A job seeker fills out an application during a career fair at the Southeast Community Facility Commission on May 21, 2014 in San Francisco, CaliforniaNew claims for US unemployment insurance benefits rose last week from a seven-year low as the labor market slowly improves, official data released Thursday showed. Initial jobless claims, a measure of the pace of layoffs, totaled 326,000 in the week ending May 17, a gain of 28,000 from the prior week, the Labor Department said. The improving trend in the labor market was reflected in the four-week moving average of claims last week, which fell to 322,500, down by 1,000 from the prior week’s slightly revised average.

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