Coronavirus Impact Leads to Highest Unemployment Claims in U.S. History
According to the U.S. Department of Labor, during the week ending March 21st, the increase in initial unemployment claims due to the impact of the coronavirus reached a record high. States are continuing to cite service industries broadly, particularly foodservice. Additional industries also cited include social services, transportation, warehouses, and manufacturing industries.
A record 3,283,000 people filed claims for unemployment in the United States last week as the coronavirus pandemic shut down large parts of the economy. The labor department reported that the advance figure for seasonally adjusted initial claims showed an increase of 3,001,000 from the previous week's revised level.
This marks the highest level of claims in the history of the seasonally adjusted series. The previous high was 695,000 in October of 1982. The previous week's level was revised up by...
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