Jobless claims soar to 3.3 million

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Jobless claims soar to 3.3 million

By HBSDealer Staff - 03/26/2020
An initial look at how many Americans lost their jobs since the widening of the coronavirus crisis has been revealed with unemployment claims ascending to their highest level since 1982.

The Department of Labor (DOL) reported today that unemployment insurance weekly claims reached a seasonally adjusted level of 3.283 million – an increase of more than 3 million claims from the previous week’s raised level.

The previous week’s level was revised up to 282,000 from 281,000.

According to the DOL, the latest weekly report is the highest level since 695,000 claims in October 1982.

The four-week moving average was 998,250, up by 765,750 claims from the previous revised average of 232,500.

Here are the states with advance unemployment claims of 100,000 or greater for the week ending March 21:

  • California (129,203)

  • Illinois (103,793)

  • Massachusetts (140,546)

  • Michigan (123,960)

  • Minnesota (112,428)

  • New Jersey (145,987)

  • Ohio (180,738)

  • Pennsylvania (363,469)

  • Texas (139,481)

  • Washington (119,238)


The full report from the DOL is available here.

 

 

 

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