Record 26M Filed For Jobless Claims Over Last 5 Weeks, With Additional 4.4M Joining Ranks Last Week
Last week another 4.4 million Americans sought unemployment benefits after losing their jobs due to the coronavirus-driven shutdowns. The staggering figures suggest that the U.S. unemployment rate has spiked as high as 20%.
The Associated Press:
26 Million Have Sought US Jobless Aid Since Virus Hit
More than 4.4 million laid-off workers applied for U.S. unemployment benefits last week as job cuts escalated across an economy that remains all but shut down, the government said Thursday. Roughly 26 million people have now filed for jobless aid in the five weeks since the coronavirus outbreak began forcing millions of employers to close their doors. About one in six American workers have now lost their jobs since mid-March, by far the worst string of layoffs on record. Economists have forecast that the unemployment rate for April could go as high as 20%. (Rugaber, 4/23)
Reuters:
Record U.S. Jobless Claims Wipe Out Post-Great Recession Employment Gains
Though weekly jobless filings remain very high, last week’s data marked the third straight weekly decline, raising hopes that the worst may be over. Weekly claims appeared to have peaked at a record 6.867 million in the week ended March 28. Nonetheless, the report adds to a growing pile of increasingly bleak economic data. It also comes amid rising protests against nationwide lockdowns to control the spread of COVID-19, the potentially lethal respiratory illness caused by the virus. (Mutikani, 4/23)
Marketplace:
Jobless Claims Jump Another 4.4 Million — 26 Million Americans Have Lost Their Jobs To The Coronavirus
The unfathomable spike in unemployment has likely pushed the jobless rate to between 15% and 20%, economists estimate. The only other time in American history when unemployment was that high was in the early stages of the Great Depression almost a century ago. (Bartash, 4/23)
The Wall Street Journal:
Another 4.4 Million Americans Sought Unemployment Benefits Last Week
“These unbelievable numbers are masking a lot of the true demand, and that’s what we’re going to continue to see play out over the next month,” said Maria Flynn, president of Jobs for the Future, a workforce development nonprofit. ... The number of workers receiving unemployment insurance continues to rise as states process applications. (Chaney and Guilford, 4/23)
CNN:
Unemployment Benefits: Another 4.4 Million Americans Filed For Unemployment Benefits Last Week
Not all of those claims will result in benefits being paid. Some will be rejected because workers did not meet eligibility requirements. Even so, numbers at that level reflect a devastating blow to workers, indicating roughly 16.2% of the US labor force is suffering from layoffs, furloughs or reduced hours during the coronavirus pandemic. Early studies have shown lower-income workers are particularly affected by job losses, and minorities, specifically black and Hispanic families, are expected to bear the brunt of the economic cost of this crisis. (Tappe, 4/23)
Bloomberg:
U.S. Jobless Claims At 4.43 Million In Labor Rout’s Fifth Week
Most states continued to see initial claims decline on an unadjusted basis -- a sign that layoffs could be slowing a bit. While several states reported declines in layoffs for the prior week, it’s unclear to what extent the figures reflect Americans still losing their jobs by the millions each week, or if people are getting through on jammed websites and phone lines to apply for benefits after weeks of attempts. (Pickert, 4/23)
Reuters:
Americans Too Scared To Go To Work Risk Losing Unemployment Aid, Experts Say
U.S. workers who refuse to return to their jobs because they are worried about catching the coronavirus should not count on getting unemployment benefits, state officials and labor law experts say. Workers in a handful of U.S. states will face this situation this week, as state officials hope to revive economies paralyzed by shutdowns related to the epidemic. (Sullivan, 4/23)
The Wall Street Journal:
Millions Of U.S. Workers Continue To Seek Unemployment Help Amid Coronavirus
Millions of Americans likely filed for unemployment benefits last week, reflecting the depth of the jobs crisis triggered more than a month ago by the coronavirus pandemic. About 5.2 million Americans applied for jobless benefits in the week that ended April 11, bringing the one-month total to more than 22 million. Economists expect a similar number filed in the most recent week that ended April 18. Claims, which are laid-off workers’ applications for unemployment insurance payments, are expected to have remained historically high last week. (Chaney and Guilford, 4/23)
The New York Times:
The $600 Unemployment Booster Shot, State By State
Before the coronavirus, people receiving unemployment benefits in most states got, on average, less than half their weekly salaries. Now, as millions file claims, many are poised to receive more money than they would have typically earned in their jobs, thanks to the additional $600 a week set aside in the federal stimulus package for the unemployed. (4/23)
Las Vegas Review-Journal:
DETR’s Added Call Center ‘Waste’ Of Money, Frustrated Jobless Say
Las Vegas resident John Kim said he was “ecstatic” when he heard the state would set up a new call center to address questions on unemployment insurance claims. The former New Life Adult Day Health Care Center employee hadn’t been to work since March 20 and has yet to see any money from the unemployment program, despite filing his initial claim nearly a month ago. He hoped the new phone lines would allow him to finally have questions answered and get his claim sorted out.But the operator on the new phone line wasn’t able to explain to Kim why his payments weren’t going through or how long he would have to wait until he would see any of the money. The operator could only answer “general questions” on the filing process. (Schulz, 4/22)
Cincinnati Enquirer:
Coronavirus In Ohio: Ohio Has Lost A Million Jobs During Pandemic
Ohio Gov. Mike DeWine and Lt. Gov. Jon Husted made the economic case Wednesday for allowing some businesses to resume operations next week. Husted said Ohio has lost 1 million jobs since the COVID-19 pandemic hit the state last month. At the beginning of March, there were 5.6 million Ohioans working. The biggest problem then, Husted said, was employers couldn't find enough workers. (Borchardt, 4/22)
