in , , , , ,

Nearly 20 Percent Of The U.S. Labor Force Has Filed For Unemployment Since Mid-March

nearly-20-percent-of-the-us.-labor-force-has-filed-for-unemployment-since-mid-march

Now in its seventh week, the U.S. unemployment crisis continues to deepen. According to Thursday’s data release from the Department of Labor, 3.8 million more Americans filed for unemployment insurance during the week ending April 25. Although that represents the fourth consecutive week of decline in seasonally adjusted initial claims, the number remains historic. (Remember, no single week prior to March 21 had ever seen even 1 million initial claims since 1967, the earliest year that data is available from the Federal Reserve.) If we add up all of the initial claims filed since the coronavirus recession began,