Another 4.43 million workers applied for initial unemployment benefits last week
Unemployment insurance forms are so hot these days. Photo: Olivier Douliery/AFP via Getty Images Since the onset of the coronavirus pandemic in the United States, 26.5 million Americans have lost their jobs. If all of the workers who’ve filed jobless claims in recent weeks are still seeking work , then America’s unemployment rate is likely hovering around 20 percent — or double its post–financial crisis peak.
Regardless, this is the worst labor market the U.S. has witnessed since the Great Depression. Should current trends continue, we may well exceed that era’s peak unemployment rate of 24.9 percent in the coming weeks. For now, the social consequences of the present crisis are less dire than those of the early 1930s only because the American social safety net — however patchy and threadbare — is more robust today than it was then.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Jobless claims jump another 4.4 million — 26 million Americans have lost their jobs to the coronavirusThe record surge of Americans applying for unemployment benefits is starting to recede, but another 4.4 million people filed new jobless claims last week to push the total above 26 million since the coronavirus pandemic laid siege to the U.S. economy a month and a half ago.
Read more »
Record 26 million Americans filed for jobless benefits over 5 weeks as layoffs wind onA record-breaking number of Americans filed for unemployment over the past five weeks as the coronavirus pandemic continued to batter the economy.
Read more »
Record 26 million Americans filed for jobless benefits over 5 weeks as layoffs wind onA record-breaking number of Americans filed for unemployment benefits over the past five weeks, revealing another devastating toll of the coronavirus pandemic.
Read more »
Deluge Continues: 26 Million Jobs Lost In Just 5 WeeksThe number of people forced out of work during the coronavirus lockdown keeps soaring. Last week, 4.4 million people filed for jobless benefits, boosting the total since last month to 26 million.
Read more »
US weekly jobless claims hit 4.4 million, bringing 5-week total to more than 26 millionFirst-time claims for unemployment insurance were expected to total 4.3 million last week, according to economists surveyed by Dow Jones.
Read more »