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 learns fate after using stolen identity to vote in US elections for decades
Watch: Mom, Daughter Threatened with Ejection Over Pro-Girl Shirts, Despite Paying $2k for Tickets Just to Support Sophie Cunningham
LA gun owners stuck waiting years for concealed carry permits score major DOJ victory
Watch: In Just 30 Seconds Bill Maher Uses Actual History to Defeat One of Palestinians’ Dirtiest Gaza Lies
Babysitter accused of kidnapping two young sisters was previously charged with abducting newborn
Luigi Mangione’s New York murder trial adjourned until December over double jeopardy concerns
Trump meets teen lifeguard and boy saved in viral ocean rescue at Oval Office
Hasan Piker Says Candace Owens ‘Single-Handedly’ Protected Left-Wing Extremism with Charlie Kirk Theories: ‘I Am a Fan’
Trump gutted South Korea military drills due to lack of help against Iran
Mass. Mayor Who Allegedly Stole $1.5M in COVID Funds Won’t Answer Media Questions Because He Says He Can’t Speak English
House Democrat investigated over alleged ‘inappropriate sexual contact’ with staffer
Justice Department expands fraud office’s prosecutorial reach
DOJ opens new pathway to restore federal gun rights for certain barred individuals
US military bases are ‘ill-equipped’ to stop drone swarms, top commander reveals after Rubio’s UAP warning
Ibram Kendi Says Black Academic Who Plagiarized Work, Fabricated Life Story to Get Cambridge Position Was ‘Lynched’ By Media Because It Told the Truth
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 learns fate after using stolen identity to vote in US elections for decades
Watch: Mom, Daughter Threatened with Ejection Over Pro-Girl Shirts, Despite Paying $2k for Tickets Just to Support Sophie Cunningham
LA gun owners stuck waiting years for concealed carry permits score major DOJ victory
Watch: In Just 30 Seconds Bill Maher Uses Actual History to Defeat One of Palestinians’ Dirtiest Gaza Lies
Babysitter accused of kidnapping two young sisters was previously charged with abducting newborn
Luigi Mangione’s New York murder trial adjourned until December over double jeopardy concerns
Trump meets teen lifeguard and boy saved in viral ocean rescue at Oval Office
Hasan Piker Says Candace Owens ‘Single-Handedly’ Protected Left-Wing Extremism with Charlie Kirk Theories: ‘I Am a Fan’
Trump gutted South Korea military drills due to lack of help against Iran
Mass. Mayor Who Allegedly Stole $1.5M in COVID Funds Won’t Answer Media Questions Because He Says He Can’t Speak English
House Democrat investigated over alleged ‘inappropriate sexual contact’ with staffer
Justice Department expands fraud office’s prosecutorial reach
DOJ opens new pathway to restore federal gun rights for certain barred individuals
US military bases are ‘ill-equipped’ to stop drone swarms, top commander reveals after Rubio’s UAP warning
Ibram Kendi Says Black Academic Who Plagiarized Work, Fabricated Life Story to Get Cambridge Position Was ‘Lynched’ By Media Because It Told the Truth
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 learns fate after using stolen identity to vote in US elections for decades
Watch: Mom, Daughter Threatened with Ejection Over Pro-Girl Shirts, Despite Paying $2k for Tickets Just to Support Sophie Cunningham
LA gun owners stuck waiting years for concealed carry permits score major DOJ victory
Watch: In Just 30 Seconds Bill Maher Uses Actual History to Defeat One of Palestinians’ Dirtiest Gaza Lies
Babysitter accused of kidnapping two young sisters was previously charged with abducting newborn
Luigi Mangione’s New York murder trial adjourned until December over double jeopardy concerns
Trump meets teen lifeguard and boy saved in viral ocean rescue at Oval Office
Hasan Piker Says Candace Owens ‘Single-Handedly’ Protected Left-Wing Extremism with Charlie Kirk Theories: ‘I Am a Fan’
Trump gutted South Korea military drills due to lack of help against Iran
Mass. Mayor Who Allegedly Stole $1.5M in COVID Funds Won’t Answer Media Questions Because He Says He Can’t Speak English
House Democrat investigated over alleged ‘inappropriate sexual contact’ with staffer
Justice Department expands fraud office’s prosecutorial reach
DOJ opens new pathway to restore federal gun rights for certain barred individuals
US military bases are ‘ill-equipped’ to stop drone swarms, top commander reveals after Rubio’s UAP warning
Ibram Kendi Says Black Academic Who Plagiarized Work, Fabricated Life Story to Get Cambridge Position Was ‘Lynched’ By Media Because It Told the Truth
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.
