Unemployment Benefits Take Another Dip

Down.

So who’s ready for another U.S. unemployment aid applications report? Well, that's what you got Thursday.

Applications for jobless benefits decreased by 4,000 for the week ending May 4, bringing the total to 323,000, down from last week’s revised figure of 327,000, the Labor Department announced on Thursday.

The four-week moving average, a “less volatile” figure, fell by 6,250, bringing the total to 336,750, down from the previous average of 343,000.

This is the third straight week that unemployment benefits have fallen.

“The advance seasonally adjusted insured unemployment rate was 2.3 percent for the week ending April 27, unchanged from the prior week's unrevised rate,” the report reads.

“The advance number for seasonally adjusted insured unemployment during the week ending April 27 was 3,005,000, a decrease of 27,000 from the preceding week's revised level of 3,032,000. The 4-week moving average was 3,034,250, a decrease of 24,500 from the preceding week's revised average of 3,058,750,” it adds.

The states with the largest increases in initial claims for the week ending April 27 were Illinois (+1,744), Oregon (+1,244), New Hampshire (+765), Arkansas (+455), and Maine (+379).

Meanwhile, California (-3,721), Michigan (-2,993), Wisconsin (-2,623), Massachusetts (-2,487), and Florida (-2,062) posted the biggest decreases in initial claims.

Despite the slight dip, markets haven’t been doing so well this morning: