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People seeking employment fill out applications at a job fair on April 23, 2014 in Detroit.

Photograph by Joshua Lott/Getty Images

People seeking employment fill out applications at a job fair on April 23, 2014 in Detroit.

Bloomberg by the Numbers: 364

The 297,000 people making initial unemployment insurance claims in the week ended May 10 was the lowest in 364 weeks — since May 2007. First-time jobless claims fell 24,000 from the previous week, according to Labor Department statistics released yesterday....

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Bourbon in Clermont, Kentucky.

Photograph by Luke Sharrett/Bloomberg

Bourbon in Clermont, Kentucky.

McConnell’s Kentucky Bourbon: Best-Served with Vermouth

Five days before he faces Louisville businessman Matt Bevin in Kentucky’s Republican primary elections, Senate Minority Leader Mitch McConnell won a rare floor victory on an issue near and dear to the hearts of Bluegrass voters. McConnell, who is seeking...

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Auto mechanics at a small shop in the Queens borough of New York City.

Photograph by Andrew Burton/Getty Images

Auto mechanics at a small shop in the Queens borough of New York City.

Bloomberg by the Numbers: 95.2

The National Federation of Independent Business’s Small Business Optimism Index rose to 95.2 last month, a post-recession high. The index improved from 93.4 in March to its highest level since 2007, before a credit crisis took hold. While the NFIB...

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Job seekers line up for the Recruit Military veteran job fair in San Diego, California.

Photograph by Sam Hodgson/Bloomberg

Job seekers line up for the Recruit Military veteran job fair in San Diego, California.

Jobless Rate — Appreciated by Yellen, Overrated With Economists

Let’s face it, Unemployment Rate: Economists just aren’t that into you. So shows a  survey of forecasters by Bloomberg’s Catarina Saraiva from May 2-7 in which 16 of 43 respondents said the jobless rate was the most overrated U.S. economic...

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Senate Majority Leader Harry Reid (D-NV), left, during a stop of the 'Give America a Raise' bus tour, at the U.S. Capitol on April 3, 2014 in Washington, DC.

Photograph by T.J. Kirkpatrick/Getty Images

Senate Majority Leader Harry Reid (D-NV), left, during a stop of the 'Give America a Raise' bus tour, at the U.S. Capitol on April 3, 2014 in Washington, DC.

Minimum Wage: Paying for It

For all the reluctance of Republican leaders to talk about raising the federal minimum wage, Sen. Chuck Schumer, third-ranking Democrat in the Senate, suggests a compromise is possible. It may cost the senator’s party, however. In the inimitable ways of...

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People seeking employment fill out applications on April 23, 2014 in Detroit.

Photograph by Joshua Lott/Getty Images

People seeking employment fill out applications on April 23, 2014 in Detroit.

Bloomberg by the Numbers: 62.8%

The participation rate — the share of the working-age population in the U.S. either employed or seeking a job — was 62.8 percent in April. This matches the lowest level since March 1978. The share of potential workers either employed...

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Is the job market taking off, or are there still problems on the pad?

Photograph by Chris Thompson/SpaceX via Bloomberg

Is the job market taking off, or are there still problems on the pad?

Job Growth: Good News, Finally — Or Is It?

Updated with president at 12:12 pm EDT For the first time in a very long time, the Obama White House has something good to talk about. Instead of a tiring refrain about American employment growing each of the past 45...

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Shipping containers at the Port of Virginia APM Terminal in Portsmouth.

Photograph by Luke Sharrett/Bloomberg

Shipping containers at the Port of Virginia APM Terminal in Portsmouth.

Bloomberg by the Numbers: 1.34%

That is the relative drag that the U.S. trade deficit is putting on economic growth, the biggest since this data was first tracked in 1947. Alan Tonelson, a U.S. Business and Industry Council research fellow, offers this read on the...

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