The difference between last week and this week's initial jobless claims was only 1,000. But at least it didn't go up. Reuters: The number of Americans submitting new applications for jobless benefits edged down last week, easing concerns the labor market was deteriorating after April's weak employment growth. While the claims data indicated the economy remained on a moderate growth path, a report from the Commerce Department showing a widening in the trade deficit in March suggested economic growth was much slower in the first quarter than initially believed. New claims for state unemployment benefits slipped 1,000 to a seasonally adjusted 367,000, the Labor Department said on Thursday. The prior week's figure was revised up to 368,000 from the previously reported 365,000. Economists polled by Reuters had forecast claims inching up to 369,000 last week. The four-week moving average for new claims, considered a better measure of labor market trends, fell 5,250 to 379,000. "It looks...(Read Full Post)