(Story updated with new hiring news)
NEW YORK ( TheStreet) -- While the pace of recovery has been modest, the steady improvement of the U.S. economy in 2011 has prompted companies across the country to add jobs, open locations and replace laid-off workers.
The latest jobs report by the Labor Department, published on May 26, showed that the number of Americans filing unemployment claims unexpectedly rose by 10,000 to 424,000 on a seasonally adjusted basis in the week ended May 21, from an upwardly revised 414,000.
The previous jobs report, however, was upbeat and shored up confidence in the country's labor market recovery. The Labor Department said on May 19 that the number of Americans filing unemployment claims dropped by 29,000 to 409,000 on a seasonally adjusted basis in the week ended May 14, from an upwardly revised 438,000. Economists were expecting jobless claims to drop to 420,000 from the previous week's originally reported figure of 434,000, according to Briefing.com.
Although the May 12 initial jobless claims report was somewhat disappointing, it nevertheless registered a drop in Americans filing unemployment claims for the first time.The reading fell by 44,000 to 434,000 on a seasonally adjusted basis in the week ended May 7. Economists were expecting jobless claims to drop to 423,000. Click on for TheStreet's slideshow of major U.S. companies that are currently hiring ...