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.”
FDA Set to Give COVID Vaccines Serious ‘Black Box’ Designation: Report
DOJ asks appeals court to halt Boasberg’s contempt hearing next week
‘Incompetence or dereliction’: Minnesota lawmaker rips Tim Walz as state fraud losses mount
DHS sweeps Twin Cities, arrests 400 as feds blast Walz for ‘failing to protect Minnesota’
DOJ Sues Four States for Violating Federal Election Law
Indiana governor vows to primary Republicans who voted against redistricting — but it won’t be easy
Christmas brawl erupts in wealthy Massachusetts enclave during holiday celebration
Tyler Robinson Accused of Sending ‘Mocking’ Message with His Choice of Tie in First Court Appearance
Oklahoma man accused of threatening federal agents online
Another One: Foreign National With New York CDL Kills Man in Tennessee Crash, Could Not Read English
Latest batch of Epstein files show photos with Trump, Bill Clinton, Larry Summers, and Steve Bannon
Husted files for 2026 Senate race, launching aggressive statewide re-election push
Trump’s green light for Nvidia sales to China sparks alarm on Capitol Hill
E. Jean Carroll’s DNA refusal tainted verdict against Trump, allies tell Supreme Court
LGBT Mafia Pounces on NFL Star After He Uses ‘Slur’ in Postgame Interview
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:
FDA Set to Give COVID Vaccines Serious ‘Black Box’ Designation: Report
DOJ asks appeals court to halt Boasberg’s contempt hearing next week
‘Incompetence or dereliction’: Minnesota lawmaker rips Tim Walz as state fraud losses mount
DHS sweeps Twin Cities, arrests 400 as feds blast Walz for ‘failing to protect Minnesota’
DOJ Sues Four States for Violating Federal Election Law
Indiana governor vows to primary Republicans who voted against redistricting — but it won’t be easy
Christmas brawl erupts in wealthy Massachusetts enclave during holiday celebration
Tyler Robinson Accused of Sending ‘Mocking’ Message with His Choice of Tie in First Court Appearance
Oklahoma man accused of threatening federal agents online
Another One: Foreign National With New York CDL Kills Man in Tennessee Crash, Could Not Read English
Latest batch of Epstein files show photos with Trump, Bill Clinton, Larry Summers, and Steve Bannon
Husted files for 2026 Senate race, launching aggressive statewide re-election push
Trump’s green light for Nvidia sales to China sparks alarm on Capitol Hill
E. Jean Carroll’s DNA refusal tainted verdict against Trump, allies tell Supreme Court
LGBT Mafia Pounces on NFL Star After He Uses ‘Slur’ in Postgame Interview
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.
FDA Set to Give COVID Vaccines Serious ‘Black Box’ Designation: Report
DOJ asks appeals court to halt Boasberg’s contempt hearing next week
‘Incompetence or dereliction’: Minnesota lawmaker rips Tim Walz as state fraud losses mount
DHS sweeps Twin Cities, arrests 400 as feds blast Walz for ‘failing to protect Minnesota’
DOJ Sues Four States for Violating Federal Election Law
Indiana governor vows to primary Republicans who voted against redistricting — but it won’t be easy
Christmas brawl erupts in wealthy Massachusetts enclave during holiday celebration
Tyler Robinson Accused of Sending ‘Mocking’ Message with His Choice of Tie in First Court Appearance
Oklahoma man accused of threatening federal agents online
Another One: Foreign National With New York CDL Kills Man in Tennessee Crash, Could Not Read English
Latest batch of Epstein files show photos with Trump, Bill Clinton, Larry Summers, and Steve Bannon
Husted files for 2026 Senate race, launching aggressive statewide re-election push
Trump’s green light for Nvidia sales to China sparks alarm on Capitol Hill
E. Jean Carroll’s DNA refusal tainted verdict against Trump, allies tell Supreme Court
LGBT Mafia Pounces on NFL Star After He Uses ‘Slur’ in Postgame Interview
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.
