Quote:ASHINGTON (Reuters) - The number of Americans lining up for new jobless benefits fell slightly last week but remained above levels posted earlier this year, suggesting improvement in the labor market is stalling.
Initial claims for state unemployment benefits dropped by 1,000 to 388,000, the Labor Department said on Thursday.
"This was a disappointing number and offers more evidence that the labor market continues to lose traction," said Joe Manimbo, an analyst at Western Union Business Solutions in Washington.
Economists polled by Reuters had expected new claims to fall to 375,000.
I'm starting to feel the results from March weren't an anomaly, but it's still too early to tell. This is not good news. It's not awful news. But at this point, you want to be at the point where we're getting good news, instead of, at best, average economic news. We'll see if this trend lasts, but the longer this continues, and it's been continuing for about a month now, the more likely the economy is slipping again.
Fortunately, the housing market is becoming more healthy. But right now, pure economic data is the most important measure and most signs are pointing to a slowdown. Here's hoping it's only a temporary deal.