Flat jobless claims raise worries about job market

New U.S. claims for unemployment benefits were unchanged last week, according to government data on Thursday that will do little to ease concerns about a recent slowdown in jobs growth.

By James Picerno: No news is still good news for jobless claims. The risk that the labor market's revival has stalled is still on everyone's mind, but there's nothing ominous in today's update on new filings for unemployment benefits. Claims were flat last week, holding steady at a revised 370,000 on a seasonally adjusted basis. The number du jour is a yawn, and for the time being that's ok.

Tom Lydon submits: Exchange traded funds (ETFs) turned flat on Thursday after mixed economic data raised concerns about the labor market and higher inflation.

New claims for US unemployment benefits were unchanged last week from the week before amid a slowly recovering jobs market, official data showed Thursday.Initial jobless claims totaled 370,000 in the week ending May 12, matching the previous week's upwardly revised figure, the Labor Department said.The flat reading broke a two-week series of declines in the closely watched new claims numbers that signal the pace of layoffs, and missed analyst expectations of a much smaller 365,000 reading.

In the rear view window, Q1 GDP was initially reported at +2.5% annualized. Once again, private growth was depressed by government austerity. March monthly data included a sharp decline in durable goods orders, which are now basically flat for a full year. New home sales increased slightly; existing home sales declined slightly. The University of Michigan confidence index increased in the second half of April, but is down month over month.

The number of U.S. workers filing new applications for unemployment benefits fell less than expected last week, while consumer prices were unchanged in February on lower energy prices