US weekly jobless claims hit 4.4 million, bringing the 5-week total to more than 26 million
Two crossed lines that form an 'X'. It indicates a way to close an interaction, or dismiss a notification.The Labor Department reported on Thursday that 4.4 million Americans filed for unemployment insurance in the week ending April 18.It's also the fifth week in a row that jobless claims have been in the millions, dwarfing the worst stretch of job losses during the Great Recession.
US weekly jobless claims were 4.4 million for the week ending April 18, the Labor Department said in a Thursday report. The consensuswho filed for unemployment insurance in the previous week, showing a continuing downward trend in jobless claims. Still, the past week's unemployment filings are still almost six times higher than the 665,000 who filed for unemployment in March 2009, the worst week of job losses during the Great Recession.
While losses are still steep, there is a silver lining in today's report — it is the third week in a row that jobless claims have declined, boosting hopes that unemployment is slowing. retail sales, US existing housing starts, consumer sentiment, and industrial production all posted historic dropsAs job losses due to the coronavirus pandemic have persisted, industries such as the arts, retail, and restaurants have been hit hard. But unemployment has even crept beyond the industries first hit by the economic shutdown — healthcare, thought to be a recession-proof industry, is also seeing job losses.
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