Report: Nearly 10M Americans Have Filed For Unemployment In The Past 2 Weeks


Last week alone, 6.648 million new claims for unemployment benefits were filed. The week before saw more than 3 million.

The coronavirus crisis dealt a massive blow to employment numbers in the United States over the past two weeks, with nearly 10 million people filing for unemployment benefits, according NPR.

With most of the country ordered to stay home for weeks in an effort to slow the virus’ spread, businesses have closed and millions of people are suddenly out of work.

Labor Department numbers revealed Thursday that there were 6.648 million new claims for unemployment benefits last week — double the record set the week before.

“In the prior week, ending March 21, a revised 3.307 million initial claims were filed,” the outlet reported. “But analysts said even that lofty number was low because many states' employment websites were overwhelmed, making it difficult for applicants to get through. A year earlier, the weekly total was just 211,000.”

Oxford Economics has projected that the coming weeks will see about 20 million people lose their jobs, and some estimates put the country’s unemployment rate as high as 15 percent in the semi-near future.

Read the full report.


Economics, Finance and Investing