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Nearly 3 Million Sought Jobless Benefits Last Week

Jobless Claims,Unemployment Benefits,Federal Reserve,Coronavirus,Donald Trump

From the Center

Number seeking jobless aid has subsided since initial layoffs surge but is still at historically high levels

Nearly 3 million workers applied for unemployment benefits last week, bringing the total number of applications in two months of coronavirus-related disruptions to 36.5 million.

The number of Americans seeking jobless aid is still at historically high levels but has subsided since an initial surge in layoffs drove claims up to a weekly peak of nearly 7 million at the end of March.

“The numbers are very high, but they’re stepping down every week, and I see no reason why that decline in filings wouldn’t continue,” said Keith Hall, chief economist for the Council of Economic Advisers under former President George W. Bush. “Employers are likely poised to bring people back, but right now we’re in a holding pattern.”

States including Utah, Texas and Indiana have lifted some business restrictions enacted earlier in the crisis to slow the spread of coronavirus. Governors are seeking to increase testing capacity and build contact-tracing teams as they move toward easing their lockdowns.

Florida, Georgia and Connecticut logged the highest number of claims last week, with each recording more than 200,000 applications. They were also among the few states that saw a weekly rise in claims last week.

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