9.4.20

US jobless claims are at historically high levels

The US jobless claims are at historically high levels. Last week, ending April 4, 6.606 million people applied for such benefits, according to the Department of Labor.

The figures are slightly below those of last week, when 6.65 million Americans applied for it, which is historically high value.

Against this background, more states have urged citizens to stay home, and overcrowded labor bureaus continue to process applications. For comparison, the average analyst estimate was 5.5 million new requests for support.



The historical growth is due to the fact that many shops and caterers have stopped compulsory activities to counteract the spread of the pandemic.

The three-week volume implies an unemployment rate of about 13% or 14%, which exceeds the peak of 10% achieved since the last recession.

California reported the most requests last week – 925,000.

Nationally, the number of newly submitted claims for compensation is on average around 216,000 per week for the 12 months to February, and the weekly record before the pandemic was 695,000 in 1982.

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