US Jobless Claims Rise to 719,000
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From the Center
Weekly jobless claims rise back above 700K
Weekly jobless claims rose above 700,000 last week after briefly dipping below the pre-pandemic record for the first time since March 2020, the Labor Department reported Thursday.
In the week ending March 27, the seasonally adjusted number of new applications for unemployment insurance rose to 719,000 from the previous week’s revised total of 658,000.
Last week’s increase brings weekly jobless claims back above the pre-coronavirus pandemic record of roughly 690,000, set in October 1982. Weekly claims had been consistently above that level since the end of March 2020, when the...
From the Right
719,000 Americans file for first-time unemployment benefits
The number of Americans filing for first-time unemployment benefits unexpectedly rose last week, according to the Labor Department.
Data released Thursday showed 719,000 Americans filed first-time jobless claims in the week ended March 27. Analysts surveyed by Refinitiv were expecting 680,000 filings. The prior week’s reading was revised down to 658,000 from 684,000. The increase comes a week after first-time filings fell to their lowest level since the onset of the COVID-19 pandemic.
Continuing claims for the week ended March 20, meanwhile, rose to 3.794 million, up from last week’s...
From the Left
U.S. jobless claims rise to 719K as virus still forces layoffs
The number of Americans applying for unemployment benefits rose by 61,000 last week to 719,000, signaling that many employers are still cutting jobs even as more businesses reopen, vaccines are increasingly administered and federal aid spreads through the economy.
The Labor Department said Thursday that the number of claims increased from 684,000 the week before. Though the pace of applications has dropped sharply since early this year, they remain high by historical standards: Before the pandemic flattened the economy a year ago, jobless claims typically ran below 220,000 a week....
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