3.3 Million People Filed For Unemployment Benefits Last Week — The Most in History
As the coronavirus continues to devastate the global economy, job numbers in America show that unemployment skyrocketed up to record numbers last week.
Data from the U.S. Department of Labor shows that 3.28 million filed for unemployment benefits between March 15 and the 21st. This blows past the previous record for 695,000 jobless claims back in 1982, which also makes it the largest unemployment single-week increase since the Great Recession.
— CNBC (@CNBC) March 26, 2020
“During the week ending March 21, the increase in initial claims are due to the impacts of the COVID-19 virus,” the department said at the top of their news release. “Nearly every state providing comments cited the COVID-19 virus impacts. States continued to cite services industries broadly, particularly accommodation and food services. Additional industries heavily cited for the increases included the health care and social assistance, arts, entertainment and recreation, transportation and warehousing, and manufacturing industries.”
The news comes as President Donald Trump is urging the country to soon return to economic normalcy, and the Senate unanimously passed a $2 trillion stimulus package in an effort to stabilize the economy. Nonetheless, businesses are being closed throughout the country as further viral outbreaks have triggered more lockdowns, and the sharp increase in layoffs will almost certainly have a drastic impact on the immediate future of the economy.
Watch above, via CNBC.
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