Weekly Jobless Claims Rise Another 3.839 Million for Week Ending April 25th

The U.S. Department of Labor is reporting that an additional 3.839 million Americans made their initial filing for unemployment benefits during the week ending on Saturday April 25^th.  The lowest level since the week of March 21^{st ,} and a decrease of 603,00 from the previous week’s revised level.  However, the rolling 6-weeks average shows that more than 30.3 American’s have filed for unemployment benefits. Federal Reserve Chairman Jerome Powell said on Wednesday (4/29) that the unemployment rate is likely to rise above 10% from the March level of 4.4% which counted a period before the intense social distancing policies went into effect.