A new analysis released Tuesday shows that more U.S. workers filed unemployment claims last week than during any other week in the nation’s history.
An estimated 3.4 million Americans filed such claims for the week ending March 21, according to the findings from the Economic Policy Institute (EPI).
“This will dwarf every other week in history,” wrote EPI’s Aaron Sojourner and Paul Goldsmith-Pinkham, adding, “The true impacts are undoubtedly of larger scale than described here.”
Fox News ‘Antisemitism Exposed’ Newsletter: Walz shocks with misguided Holocaust comparison
Second elderly South Carolina woman dead from hypothermia in winter storm
Ellison brags to DNC activists how many times he has sued the Trump admin: ‘You can count on me’
Klobuchar launches Minnesota governor bid after Walz ends re-election run amid massive fraud scandal
Minnesota ICE protesters face few arrests despite continued unrest
How Democrats’ demands for judicial warrants in immigration enforcement would decimate deportation agenda
Illinois teen stabs pregnant woman 70 times, knifes dog, sets home ablaze during Facebook Marketplace meetup
Trump admin finds California ban on notifying parents of gender transitions violated federal law
Texas killer asks victims’ families for forgiveness before becoming first execution of 2026
Georgia assistant principal accused of stealing nearly $1K in Walmart merchandise at self-checkout
NJ councilwoman condemns ‘ignorance’ of comparing ICE agents to Nazis during heated meeting
Trump taps Colin McDonald for newly-created role of assistant attorney general for fraud enforcement
Ilhan Omar demands impeachment of Noem amid DHS funding battle: ‘We must abolish ICE’
Video appears to show Alex Pretti spit at federal agents, violently damage SUV days before fatal CBP shooting
Ilhan Omar blames Trump’s rhetoric for surge in death threats, including spray attack: ‘So obsessed with me’
The startling calculation—based on claims in 35 states and Washington, D.C. and extrapolated to the other 15 states—comes as the nation continues to experience a rise in cases of the novel coronavirus—with over 46,000 confirmed as of Tuesday—and as ordinary Americans feel the economic and societal impacts of the crisis, with schools, stores, and work places temporarily shuttered, varying degrees of lockdowns in place, and households and frontline workers still wondering if lawmakers will put their urgent needs above those of corporate America.
A graph accompanying the new EPI analysis, which is based on data from news reports from March 15 to March 21, illustrates the enormous jump in unemployment claims—even if the actual figure ends up being on the analysts’ low-end projection of 3 million claims. At no other point in the timeline shown does the figure even scrape 1 million.
Reaction to the findings was stark:
Fox News ‘Antisemitism Exposed’ Newsletter: Walz shocks with misguided Holocaust comparison
Second elderly South Carolina woman dead from hypothermia in winter storm
Ellison brags to DNC activists how many times he has sued the Trump admin: ‘You can count on me’
Klobuchar launches Minnesota governor bid after Walz ends re-election run amid massive fraud scandal
Minnesota ICE protesters face few arrests despite continued unrest
How Democrats’ demands for judicial warrants in immigration enforcement would decimate deportation agenda
Illinois teen stabs pregnant woman 70 times, knifes dog, sets home ablaze during Facebook Marketplace meetup
Trump admin finds California ban on notifying parents of gender transitions violated federal law
Texas killer asks victims’ families for forgiveness before becoming first execution of 2026
Georgia assistant principal accused of stealing nearly $1K in Walmart merchandise at self-checkout
NJ councilwoman condemns ‘ignorance’ of comparing ICE agents to Nazis during heated meeting
Trump taps Colin McDonald for newly-created role of assistant attorney general for fraud enforcement
Ilhan Omar demands impeachment of Noem amid DHS funding battle: ‘We must abolish ICE’
Video appears to show Alex Pretti spit at federal agents, violently damage SUV days before fatal CBP shooting
Ilhan Omar blames Trump’s rhetoric for surge in death threats, including spray attack: ‘So obsessed with me’
This chart, holy shit https://t.co/luqjZ4ngsh pic.twitter.com/NeCbcOY1aw
— Christopher Ingraham (@_cingraham) March 24, 2020
Sojourner and Goldsmith-Pinkham, both research associates at EPI, put the projection into the context of the nation’s unemployment rate:
For scale, consider that 3.4 million Americans moving from employment to unemployment would raise the number of the unemployed from 5.7 million to 9.1 million. This alone would raise the unemployment rate by more than half, by 2 percentage points from 3.5% to 5.5%, moving back to 2015 levels in just one week. This spike represents 2.2% of all jobs in the economy. The largest monthly rise in the unemployment rate in American history was plus 1.3 percentage points in October 1949.
Fox News ‘Antisemitism Exposed’ Newsletter: Walz shocks with misguided Holocaust comparison
Second elderly South Carolina woman dead from hypothermia in winter storm
Ellison brags to DNC activists how many times he has sued the Trump admin: ‘You can count on me’
Klobuchar launches Minnesota governor bid after Walz ends re-election run amid massive fraud scandal
Minnesota ICE protesters face few arrests despite continued unrest
How Democrats’ demands for judicial warrants in immigration enforcement would decimate deportation agenda
Illinois teen stabs pregnant woman 70 times, knifes dog, sets home ablaze during Facebook Marketplace meetup
Trump admin finds California ban on notifying parents of gender transitions violated federal law
Texas killer asks victims’ families for forgiveness before becoming first execution of 2026
Georgia assistant principal accused of stealing nearly $1K in Walmart merchandise at self-checkout
NJ councilwoman condemns ‘ignorance’ of comparing ICE agents to Nazis during heated meeting
Trump taps Colin McDonald for newly-created role of assistant attorney general for fraud enforcement
Ilhan Omar demands impeachment of Noem amid DHS funding battle: ‘We must abolish ICE’
Video appears to show Alex Pretti spit at federal agents, violently damage SUV days before fatal CBP shooting
Ilhan Omar blames Trump’s rhetoric for surge in death threats, including spray attack: ‘So obsessed with me’
Grim as the scenario painted by the analsis is, reality may be even worse. The researchers wrote that the actual tally of claims “could be substantially higher.” Not all unemployed workers are able to file unemployment insurance claims either, and for those that do, they’ll get about half—or less—of their regular income. The end of the coronavirus crisis is also not in the immediate future.
All that points to the need for the federal government to provide states with more aid.
“American working families are paying a large price through no fault of their own,” wrote Sojourner and Goldsmith-Pinkham. “But there is no shortcutting public health to get the American economy back to work. A healthy economy requires public health.”
Story cited here.
