Unemployment Sets Record

By Staff Writer April 03, 2020 473

Unemployment claims rose to 6.8 million for the week ending March 28, the highest level of seasonally adjusted initial claims in history, according to the U.S. Department of Labor.

Last week’s claims were adjusted up to 3,307,000.

The advance number of actual initial claims under state programs, unadjusted, totaled 5,823,917 in the week ending March 28, an increase of 2,903,757 (or 99.4 percent) from the previous week. The seasonal factors had expected a decrease of 23,150 (or -0.8 percent) from the previous week. There were 183,775 initial claims in the comparable week in 2019. The advance unadjusted insured unemployment rate was 2.3 percent during the week ending March 21, an increase of 0.9 percentage point from the prior week.

The advance unadjusted number for persons claiming unemployment insurance benefits in state programs totaled 3,383,382, an increase of 1,308,646 (or 63.1 percent) from the preceding week. The seasonal factors had expected a decrease of 82,062 (or -4.0 percent) from the previous week. A year earlier the rate was 1.3 percent and the volume was 1,908,355.

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Last modified on Friday, 03 April 2020 13:19

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