In the week ending May 31, the advance figure for seasonally adjusted initial claims for unemployment insurance was 312,000. That figure represents an increase of 8,000 from the previous week's upwardly revised level (from 300,000 to 304,000), but still near a seven-year low. The four-week moving average—a less volatile gauge of underlying labor market conditions—was down 2,250 to a new recovery low of 310,250. The previous week was revised up from 311,500 to 312,500.
