U.S. Weekly Jobless Claims Surge to More Than 3 Million

Headline Roundup March 26th, 2020

The number of Americans filing claims for unemployment benefits surged to more than 3 million last week as layoffs continued in the wake of the coronavirus spread.

The sharp rise in claims signals the unemployment rate could rise several percentage points in coming months, after matching a 50-year low of 3.5% in February.

U.S. Weekly Jobless Claims Surge to More Than 3 Million

From the Center
302
Economy and Jobs, unemployment benefits, jobless benefits, layoffs, coronavirus, unemployment rate

A record 3.28 million workers applied for unemployment benefits last week as the new coronavirus hit the U.S. economy, marking the end of a decadelong job expansion.

The number of Americans filing for claims was nearly five times the previous record high. Workers seeking jobless benefits, a proxy for layoffs, increased by 3 million for the week ended March 21, from the prior week.

States reporting large increases included Pennsylvania, California, Massachusetts, New Jersey and Ohio. Many U.S. businesses have announced layoffs and several state and local authorities ordered nonessential...

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From the Right
302
Economy and Jobs, unemployment benefits, jobless benefits, layoffs, coronavirus, unemployment rate

Jobless claims soared to 3.28 million in the past week, the Labor Department said Thursday, as the coronavirus outbreak affected wide portions of the economy.

The figure was more than four times higher than the previous weekly record of 695,000, set in October 1982. During the previous week in March, 281,000 people had filed unemployment claims.

Most economists had forecast about 1.5 million people filing for unemployment benefits.

The true number of out-of-work Americans is likely much higher; self-employed people and gig workers don’t file for unemployment benefits.

The Senate...

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From the Left
302
Economy and Jobs, unemployment benefits, jobless benefits, layoffs, coronavirus, unemployment rate

The U.S. unemployment rate has likely risen to 5.5 percent already -- a level not seen since 2015.

A record 3.3 million Americans applied for unemployment benefits last week, the Labor Department said Thursday, as restaurants, hotels, barber shops, gyms and more shut down in a nationwide effort to slow the spread of the deadly coronavirus.

Last week saw the biggest jump in new jobless claims in history, surpassing the record of 695,000 set in 1982. Many economists say this is the beginning of a massive spike in unemployment that...

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