The number of Americans applying for first-time unemployment benefits rose last week, but remained at a historically low level consistent with an improving labor market.

Initial jobless claims, a proxy for layoffs across the economy, increased by 10,000 to a seasonally adjusted 274,000 in the week ended May 16, the Labor Department said Thursday. Economists surveyed by The Wall Street Journal had expected 271,000 new claims.

"U.S. labor market momentum remains solid in mid-May," Barclays economist Jesse Hurwitz said in a note to clients.

The prior week's claims were left unrevised at 264,000. The Labor Department said no special factors affected the latest data.

Jobless claims can be volatile from week to week, but have been generally falling since 2009 and over the last month touched levels last seen at the tail end of the 1990s economic boom. The four-week moving average for initial claims fell by 5,500 last week to 266,250, its lowest level since April 15, 2000.

Nasdaq