Jobless Claims Rise By 9,000
Unemployment claims by the newly laid-off increased by 9,000 last week to 429,000. The four week moving average remained flat at 426,250.
For the week ended June 4, the most recent week data were available, 7.5 million Americans were receiving some form of unemployment assistance; that includes 3.5 million on regular benefits and 3.3 receiving emergency extended benefits after having exhausted their state benefits.
Wall Street fell on the news, with the S&P down 1.5 percent and the Dow Jones down 1.6 percent.
