Jobless Claims Back Up

Will it ever end? After being told that jobless claims dipped to the lowest level since April last week, claims are back up at 408,000, an increase of 9,000 from the revised figure of 399,000. (So claims never actually hit 395,000 after all.)

The four-week moving average remained above 400,000, at 402,500, a drop of 3,500 from the previous week.

For the week ended July 30, the most recent week data were available, more than 99,000 people stopped receiving regular state unemployment checks, and 27,000 people stopped receiving emergency extended benefits. Since hiring figures haven’t been that rosy, some of those people are probably not receiving checks because their benefits have expired, rather than because they found a job.