The number of Americans signing up for jobless benefits fell last week, while housing starts and building permits rose in May, offering some hope the economy could be starting to pull out of its soft patch, Reuters reported. Initial claims for state unemployment insurance slipped 16,000 to 414,000, the Labor Department said on Thursday, suggesting the jobs market was regaining some momentum after stumbling badly in May. A separate report from the Commerce Department showed groundbreaking for homes rose 3.5 percent to an annual rate of 560,000 units, retracing almost half of April's steep decline. New building permits unexpectedly rebounded 8.7 percent to the highest level since December. The reports offered at least a hint the economic slowdown that started as the year began could be easing. U.S. financial markets, however, were little moved by the data, which was eclipsed by concerns Greece could default on its debt. A report earlier this month showed U.S. employers added a scant 54,000 workers to their payrolls in May, with the jobless rate rising to 9.1 percent. While both the jobless claims and housing data moved in a better direction, the levels suggested the recovery remains quite weak. Initial jobless claims remained above the 400,000 level for a tenth straight week. Economists say claims would need to drop below that level to offer a clear sign of an improving labor market. -- SPA
