Another 5 million people filed jobless claims last week, bringing total to almost 22 million in one month
April 16, 2020 / By David Gura
Around 5 million more people filed for first-time unemployment claims last week, as the job market in every sector of the economy continues to be devastated by the coronavirus pandemic.
The staggering weekly number comes as President Donald Trump weighs plans to pull back on the social distancing measures that have shuttered businesses across the country, and reopen parts of the economy as soon as May 1.
State-mandated lockdowns have choked vast portions of the once-booming economy, kicking a total of 22 million people out of work and launching the nation into the worst crisis since the Great Depression.
Still, even that number may not tell the whole story, as state unemployment offices continue to struggle to process the unprecedented number of people rushing to file claims.
“The job losses are historic,” economist Julia Coronado said. “It means that we are going to be in for a double-digit unemployment rate.”
