According to Reuters, the amount of Americans filing for unemployment benefits dropped last week. However, an upward revision to the previous week's figures suggested the labor market recovery is coming along slowly.
Initial claims for state unemployment benefits fell 2,000 to a seasonally adjusted 339,000, the Labor Department said on Thursday. Claims for the prior week were revised to show 5,000 more applications received than previously reported.
The four-week moving average for new claims, which irons out week-to-week volatility, dropped 5,750 to 344,000.
Lackluster domestic demand is preventing the labor market from generating stronger jobs growth that would decisively lower the unemployment rate.