Surge In Unemployment Claims Continues

Jobless rolls continued to swell due to the coronavirus shutdown, with 6.6 million Americans filing first-time unemployment claims in the week ended April 4, CNBC reports.

Economists surveyed by the Wall Street Journal had expected the number to be around 5 million Americans.

Washington Post: “Last week’s jobless numbers are on top of the nearly 10 million Americans who had already applied for unemployment the two previous weeks.”

Politico: “Economic forecasts are becoming routine that predict unemployment will exceed its historic 25% peak during the Great Depression, and the number of jobs lost in a mere three weeks now exceeds the 15 million that it took 18 months for the Great Recession to bulldoze in 2007-2009.”