Financial

3.2 Million More Are Out Of Work As Jobless Claims Keep Piling Up

May 7, 2020 / JIM ZARROLI

Updated at 8:43 a.m. ET

Another 3.2 million people filed for unemployment for the first time last week, bringing the total number of jobs lost during the coronavirus crisis in the last seven weeks to at least 33.5 million.

Last week’s number was down from the nearly 3.9 million initial claims filed the week ending April 25, and filings have fallen for five weeks in a row.

The claims numbers come one day before the release of the April jobs report, which is expected to show a staggering jump in unemployment to around 16%.

The Congressional Budget Office has projected that unemployment, which hit 4.4% in March, will average nearly 14% during April, May and June. Moody’s Investors Service predicts it will rise to 15% during the quarter.

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Chris J. Stewart

Chris currently serves as Chief Executive Officer of Surgio Health as well as Chief Operating Officer at Ortho Spine Partners. Prior to that, he was the assistant vice president and business unit leader of Medical Device Management for HealthTrust Purchasing Group (HPG).

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