Weekly Jobless Claims Rise As Average Dips

Weekly unemployment insurance claims from the first-time unemployed rose 10,000 last week to 424,000 while the four-week moving average dipped 1,750 to 438,500, the labor department reported.

Meanwhile for the week ended May 7, the most recent week for which data was available, 3.5 million people were receiving unemployment benefits and another 3.4 million were among the long-term unemployed who were receiving special emergency checks.

Those plus a number of smaller programs total 7.7 million Americans receiving unemployment benefits.

That’s down more than 2.2 million from a year ago but still, we don’t need to tell you, a lot.