Jobless claims hovered at 5.2 million last week, over 21 million have filed for unemployment in pandemic
Jobless Claims,Unemployment Benefits,Economy And Jobs
The number of workers claiming new unemployment benefits increased by 5.2 million last week, the Labor Department reported Thursday, as the coronavirus incited more layoffs.
Forecasters had expected that 5.46 million jobs would be lost the week ending April 11.
Over 21 million people have lost their job in the last four weeks, the jobless claims numbers show. Roughly 6.6 million were lost the week ending April 4 and 6.8 million jobs were lost the week ending March 28, according to the Labor Department. For the preceding week, 2.6 million requested unemployment benefits.
The number of lost jobs over the past month is larger than the jobs that were created since the end of the Great Recession in June of 2009, according to CNBC.
In the past, the largest number of workers claiming unemployment benefits over a four-week period was 2.7 million in 1982.
Historic losses in the current job market come as President Trump has promised to unveil guidelines on Thursday to reopen the country’s shuttered economy that could prompt hiring. Trump is due to speak to governors later Thursday and said he would be making an announcement in the afternoon.
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