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.”
Illegal immigrant accused of fentanyl dealing linked to Virginia high school overdoses
Houston Uber driver caught in wild police chase as officers seen on dashcam video hitching a ride in his car
Trump administration proposes six-figure price tag for new H-1B visas
Trump admin eyes historic mass visa revocation targeting up to 200K asylum seekers: report
Watch: Scott Bessent Announces Details of ‘Unprecedented Campaign’ Against ‘Iran and Its Enablers’
‘Moderate’ Dem gubernatorial candidate embraced DEI budget tool, Green New Deal-style policies
Trump scores Supreme Court win on mail-in voting restrictions before midterms
Trump administration touts ‘hard reset’ for American schools, vows to put parents ‘back in charge’
San Francisco 49ers Owner Arrested at Trailer Park in East Palestine, Ohio
Oklahoma-based Southwest Airlines flight attendant found dead in Hawaii, police investigating
UK gives missile blueprints to Ukraine as relations with Russia collapse
Manhunt for Massachusetts woman ends with grim discovery week after police officer husband found dead at home
Tree-Trimmer Arrested After On-the-Job ‘Prank’ Leaves Co-Worker Dead
Schiff attack on Trump’s DC IndyCar race backfires after driver points out contradiction
Washington Post Ordered to Re-Hire Columnist Who Made ‘Beyond the Pale’ Comments on Day of Charlie Kirk’s Assassination
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:
Illegal immigrant accused of fentanyl dealing linked to Virginia high school overdoses
Houston Uber driver caught in wild police chase as officers seen on dashcam video hitching a ride in his car
Trump administration proposes six-figure price tag for new H-1B visas
Trump admin eyes historic mass visa revocation targeting up to 200K asylum seekers: report
Watch: Scott Bessent Announces Details of ‘Unprecedented Campaign’ Against ‘Iran and Its Enablers’
‘Moderate’ Dem gubernatorial candidate embraced DEI budget tool, Green New Deal-style policies
Trump scores Supreme Court win on mail-in voting restrictions before midterms
Trump administration touts ‘hard reset’ for American schools, vows to put parents ‘back in charge’
San Francisco 49ers Owner Arrested at Trailer Park in East Palestine, Ohio
Oklahoma-based Southwest Airlines flight attendant found dead in Hawaii, police investigating
UK gives missile blueprints to Ukraine as relations with Russia collapse
Manhunt for Massachusetts woman ends with grim discovery week after police officer husband found dead at home
Tree-Trimmer Arrested After On-the-Job ‘Prank’ Leaves Co-Worker Dead
Schiff attack on Trump’s DC IndyCar race backfires after driver points out contradiction
Washington Post Ordered to Re-Hire Columnist Who Made ‘Beyond the Pale’ Comments on Day of Charlie Kirk’s Assassination
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.
Illegal immigrant accused of fentanyl dealing linked to Virginia high school overdoses
Houston Uber driver caught in wild police chase as officers seen on dashcam video hitching a ride in his car
Trump administration proposes six-figure price tag for new H-1B visas
Trump admin eyes historic mass visa revocation targeting up to 200K asylum seekers: report
Watch: Scott Bessent Announces Details of ‘Unprecedented Campaign’ Against ‘Iran and Its Enablers’
‘Moderate’ Dem gubernatorial candidate embraced DEI budget tool, Green New Deal-style policies
Trump scores Supreme Court win on mail-in voting restrictions before midterms
Trump administration touts ‘hard reset’ for American schools, vows to put parents ‘back in charge’
San Francisco 49ers Owner Arrested at Trailer Park in East Palestine, Ohio
Oklahoma-based Southwest Airlines flight attendant found dead in Hawaii, police investigating
UK gives missile blueprints to Ukraine as relations with Russia collapse
Manhunt for Massachusetts woman ends with grim discovery week after police officer husband found dead at home
Tree-Trimmer Arrested After On-the-Job ‘Prank’ Leaves Co-Worker Dead
Schiff attack on Trump’s DC IndyCar race backfires after driver points out contradiction
Washington Post Ordered to Re-Hire Columnist Who Made ‘Beyond the Pale’ Comments on Day of Charlie Kirk’s Assassination
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.
