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General News    H2'ed 3/26/20

3.28 million people filed for unemployment in the U.S. last week amid coronavirus shutdown

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US jobless claims hit 3.3 million, quadruple previous record ...
US jobless claims hit 3.3 million, quadruple previous record ...
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A record 3.28 million Americans filed jobless claims in the past week as the coronavirus crisis plunged the nation into a certain deep recession. The grim number is an eye-popping 400% higher than the all-time record of 695,000 in 1982. Economists expected just 1.5 million claims, although some of those forecasts were made before the pandemic started spiking and more states issued shutdown orders. Small and large businesses across the country have shuttered and Americans have been ordered to stay home, bringing economic activity to a halt in many places. The frightening surge in unemployment numbers may even understate the catastrophe as many states have reported websites crashing amid a rush by fired workers to file. Jobless claims are considered the quickest window into immediate economic conditions.

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At www.nydailynews.com

 

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Sheila Samples is an Oklahoma writer and a former civilian US Army Public Information Officer. She is a Managing Editor for OpEd News, and a regular contributor for a variety of Internet sites.

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