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Thursday, April 02, 2020

US weekly jobless claims expected to blow past previous week’s 3.3M

The number of Americans filing claims for unemployment benefits likely shot to a record high for a second week in a row as more jurisdictions enforced stay-at-home measures to curb the coronavirus pandemic, which economists say has pushed the economy into recession.

Thursday's weekly jobless claims report from the Labor Department, the most timely data on the economy's health, is expected to show that claims blew past the previous week's record 3.3 million. It will likely reinforce economists' views that the longest employment boom in U.S. history probably ended in March.

More than 80% of Americans are under some form of lockdown, up from less than 50% a couple of weeks ago, leaving state employment offices overwhelmed by an avalanche of applications.

The United States has the highest number of confirmed cases of COVID-19, the respiratory illness caused by the virus, with nearly 188,000 people infected. Almost 4,000 people in the country have died from the illness, according to a Reuters tally.

"The U.S. labor market is in free-fall," said Gregory Daco, chief U.S. economist at Oxford Economics in New York. "The prospect of more stringent lockdown measures and the fact that many states have not yet been able to process the full amount of jobless claim applications suggest the worst is still to come."

More
https://www.foxbusiness.com/markets/us-weekly-jobless-claims-seen-at-record-high-again

7 comments:

Anonymous said...

Yeah...like doubled from last week. 6.6M wow.

Anonymous said...

You trumpkins got what you voted for. The problem is you are taking the whole country down with you....

Anonymous said...

You ain't seen Nothin yet !!! Virtually Everyone will QUALIFY !!!

Problem is > You can't get the Fukkkk up with the Govt to FILE it !!!

So, I guess for months , we will be without ANY $$$$ from the Govt !!!!!

They better their IT Dept kicking assssss to get the New System UP !!!!

Anonymous said...

3.3 million applied for unemployment last week this week...6.6 million this week. Total number of covid-19 world wide 850,000. More people are being affected by shutting down businesses than are being affected by this cold. Lets fire up everything and get back to work it's just a cold

Anonymous said...

NO EXCUSE for the damn Unemployment division NOT being UP yet with
the New Program by now , so WE can FILE for our benefits !!!

& they better ADD Alot of phone lines / ONLY 1 Phone line now !!!

You will Never get on & the Old online part is No good to you now !!!

Anonymous said...

Most will have to Wait until the NEW SYSTEM is up & Running !!!
Can't use the old one, (alot of people) !!!!

Anonymous said...

I've been trying to get ahold of them and nothing it's always busy!! And how much longer do we have to wait. I know were not supposed to panic but a little bit of worry has set in.