Check out hopeful signs that the recession may be abating.

While recent reports showed slumping sales at many big-box retailers, there are other signs that the economy may be bottoming.

U.S. retail sales rose in May and the number of workers who filed new applications for jobless benefits last week fell for the fourth straight week.

The Commerce Department today reported that U.S. retail sales rose 0.5 percent in May, thanks partly to gasoline sales that jumped 3.6 percent. Meanwhile, the Labor Department said initial jobless claims fell to their lowest levels since Jan. 24.

Discount retailer Target has increased its quarterly dividend, Clorox did the same while also affirming its 2010 profit outlook and financial targets for 2013, and Del Monte posted far stronger-than-expected quarterly earnings and provided a better-than-expected 2010 forecast.

Not all the news has been hopeful, however.

While last month’s U.S. foreclosure activity ebbed from April’s record high, homeowners were still struggling to keep up with house payments and May foreclosure filings were the third-highest on record.

Unemployment is at its highest level since July 1983. Some economists are talking about a “jobless recovery”, gas prices are rising and spiking mortgage rates are cooling demand for new home loans.

The weak economy has led to haggling in some unexpected places – namely  Tiffany – and forced other exclusive brands like Juicy Couture and Louis Vuitton to join the retail hoi polloi in trolling online for sales via Facebook and Twitter.

Also in the Basket:

Stimulus cash brings hope to poor U.S. youth

Jamba CEO eyes long-term growth, menu expansion

Lululemon posts lower profit, sees flat quarter

Look Who’s Shopping Goodwill (New York Times)

Restaurants Take Trip to Store (Wall Street Journal)

(Photo: Reuters)

With foreclosures of homes on the rise, so are stories of pet abandonment, but pet food maker Del Monte says sales of dog and cat food and treats hasn’t been affected.

The New Haven Register in Connecticut reported on Nov. 23 of a dramatic rise in pet abandonment at shelters across the city, as adjustable mortgage rate resets make mortgages on many homes unaffordable, and rising food costs make paying for pet food and upkeep unrealistic.

And on Nov. 16, The Boston Globe said a record number of cats are being dropped off at local animal shelters. A Humane Society official attributed the record numbers to the faltering economy and people losing their homes. 

Higher animal abandonments have hit Canada as well, according to a Nov. 7 article in the Albuquerque Journal (subscription required).

Still, pet food company Del Monte, maker of Meow Mix cat food and dog treats like Meaty Bone and Pupperoni,  says they haven’t seen a meaningful drop in pet food sales in recent months.

“We have not seen any hard data that would indicate household pet ownership to be declining, and so anecdotally we’ve heard about pets being left in foreclosed homes and that sort of thing, but we have not seen any data or seen any evidence with our customers that that really is a problem,” Del Monte Chief Executive Richard Wolford said on a call with analysts.”

Whether they’re in a family home or living in an animal shelter, dogs and cats still have to eat.

(Photo/Reuters)