Weekly Jobless Claims Rise Another 3.839 Million for Week Ending May 2nd

The U.S. Department of Labor is reporting that an additional 3.169 million Americans made their initial filing for unemployment benefits during the week ending on Saturday, May 2nd.  A decrease of 677,00 from the previous week’s revised level.  Although the numbers remain high, it’s the lowest total since the second week of March. However, over the past seven weeks more than 33.5 American’s have filed for unemployment benefits. Continuing claims, or those who have filed within at least the last two weeks, continue to climb higher, up 4.6 million to 22.6 million.