Initial Jobless Claims were flat in the latest week, as the number of first-time filers declined by 1,000 to 191,000. The number of people continuing to receive unemployment benefits after their initial claim is filed rose 14,000 to 1.694 million, which is one of the highest readings over the last year.

What’s the bottom line? The relatively low number of Initial Jobless Claims suggests that the labor market remains tight and companies are trying to retain workers. However, the high number of Continuing Claims also suggests it’s harder for people who are let go to find new employment. While these filings can be volatile from week to week, the overall trend has been higher. Continuing Claims have now risen by nearly 350,000 since the low reached last September.