The number of unemployment insurance claims in the US remained stable last week, as a recovery in the country's labor market continued.

According to figures released by the labor department, initial jobless claims were recorded at a ten-month low of 505,000 in the week ending November 14th, while the total number of people collecting unemployment insurance fell in the same period.

In addition, the government agency published a four-week moving average of initial claims, which fell by around 6,000 last week to its lowest level in a year at 514,000.

Tom Porcelli, senior economist at RBC Capital Markets, explained that the North American country's employment situation is improving at a "glacial pace".

He told Bloomberg: "People are having a hard time finding a job as companies remain wary of the economic recovery. We expect it will be a jobless recovery."

The US unemployment rate reached its highest level since 1983 in October increasing to a double digit figure of 10.2 per cent, according to the labor department.