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Coronavirus Continues to Impact Number of Initial Unemployment Claims

According to the U.S. Department of Labor, the figure for initial unemployment claims was 4,427,000 for the week ending April 18th. This is a decrease of 810,000 from the previous week's revised level. Last week's level was revised down by 8,000 claims from 5,245,000 for a total of 5,237,000. The 4-week moving average increased by 280,000 to reach 5,786,500.

For the week ending April 11th, the insured unemployment rate was 11%, an increase of 2.8 percentage points from the previous week. This marks the highest level of the insured unemployment rate in the history of the series. The total reached...

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