Jobless benefits ticked up 4,000 last week

First-time claims for unemployment benefits rose slightly last week, but they are hovering around levels posted before the recession started at the end of 2007.

Weekly applications increased 4,000, to a seasonally adjusted 317,000, last week in a sign that layoffs are stabilizing, the Labor Department said Thursday.

{mosads}The four-week average, a better indicator as to the direction of the labor market, increased 4,750, to 315,250.

There were no special factors affecting the claims, officials said.

The four-week moving average of those who are continuing to receive benefits was 2.62 million, a decrease of 13,000, the lowest level since Nov. 24, 2007.

The weekly number for those still getting benefits rose 11,000, to 2.61 million, for the period that ended May 31.

Employers added 217,000 jobs in May, the Labor Department said Friday, while the jobless rate remained at 6.3 percent. 

Economists expect about a 4 percent annual pace of growth in the April-June quarter, and job growth should gradually improve for the rest of the year.