JOBS NUMBERS: 4.4 Million Americans File for Unemployment Claims Last Week
By Fox Business // April 23, 2020
26 million people lose jobs in past 5 weeks
ABOVE VIDEO: Weekly jobless claims: 4.4 million filed for unemployment amid coronavirus.
(FOX BUSINESS) – Another 4.4 million Americans filed for unemployment claims last week, the Labor Department reported Thursday, as massive job losses caused by the coronavirus pandemic continued to grow.
The new report, which covers the week ending April 18, brings total job losses since the virus outbreak triggered widespread stay-at-home measures five weeks ago to more than 26 million, erasing the entirety of the 22.78 million labor market gains since the Great Recession more than a decade ago.
With a labor force that totals about 162 million people, the claims figures suggest the unemployment rate is about 16 percent, or roughly one in six Americans — significantly higher than the 10 percent peak seen during the 2008 financial crisis.
The previous one-week high for jobless claims was 695,800 in 1982.
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