More than 6.6 million Americans applied for unemployment benefits last week.
The record 6,648,000 seasonally adjusted claims figure comes after 3.3 million sought benefits two weeks ago. Claims have skyrocketed after large segments of the U.S. economy shut down in response to government orders aimed at combating the coronavirus pandemic.
Economists had expected claims to remain around 3 to 4 million but few had confidence about such forecasts in light of the rapidly changing economic conditions.
Trump administration blocks Venezuela from paying Maduro’s legal bills amid federal charges
Murder suspect in Baltimore robbery spree was on probation, records show
Authorities preparing to return home of Nancy Guthrie back to family: report
Some of the most notable guests at Trump’s 2026 State of the Union: photos
Senators Sanders and Mullin clash in heated Senate hearing exchange: ‘You’re part of the problem’
Trump’s fraud czar nominee touts Minnesota blueprint to root out Obamacare fraud, senior scams
Trump’s ‘war on fraud’ draws range of reactions during SOTU speech
Former top Harris adviser ignites backlash over ‘political props’ comment targeting USA men’s hockey team
The Laundering of Iran’s Atrocities: How Western Voices Became a Shield for the Islamic Republic’s Mass Killings
Capitol Tea: Jim Justice, of Babydog fame, offers to take over Tillis dog parade
Karoline Leavitt Drops List of Policies Dems Wouldn’t Stand For, Including Voter ID and Fewer Murders
GOP to campaign on Democrats picking illegal immigrants over Americans at State of the Union
Thune floats White House lifeline for unpaid DHS workers as shutdown drags on
Brandon Herrera calls for GOP leadership to pressure Tony Gonzales to exit Texas race after House of Cards-level scandal
Former CNN Host Don Lemon is Being Sued for Emotional Distress Following Minnesota Church Stunt: ‘Appeared to Take Satisfaction in the Disruption’
On an unadjusted basis, new claims came in at 5.8 million. Some economists will look to that as a more accurate read of the labor market because seasonal adjustments are less relevant in the unusual circumstances prevailing now.
Initial jobless claims are a proxy for layoffs. The extremely high levels recorded in the past two weeks are an indication that businesses have let go millions of workers as demand for goods and services, as well as the ability to provide them, has fallen dramatically due to fears of the virus and orders to stay at home.
The layoffs are widespread across the U.S., according to state-by-state data reported with a one week delay. All states reported increases in initial claims for the week ending March 21. The largest increases were in Pennsylvania, Ohio, Massachusetts, Texas, and California. The smallest increases were in the Virgin Islands, South Dakota, West Virginia, Vermont, and Wyoming.
Story cited here.
