Jobless benefits dropped 52000 to "a seasonally adjusted" 565,000 in the week ended July 4.
Numbers have mildly improved. However a drop of 52,000 seems to have been atributed to a shift by the auto industry to later layoffs for the summer. So although the numbers seem to have improved there is still continued weakness in the job market.
It is a good sign with commodity prices drifting lower. With these higher prices we will continue to see continued weakness in consumer spending, and capital ex. So with a decline in prices and decline in currency pressure this decline will not seem as bad.