the United States records a record number of unemployed registrations
Weekly jobless claims exploded in the United States last week, reaching an all-time high: over 3 million. The measures adopted to contain the coronavirus pandemic had suddenly put an end to the country’s activity and triggered an unprecedented wave of layoffs.
The new coronavirus pandemic has detonated weekly jobless claims in the United States, with more than 3 million more people applying for unemployment benefits last week, an all-time high, the Labor Department said on Thursday March 26. .
3.3 million people applied for unemployment benefits for the first time during the week of March 15-21, 3 million more than the previous week, which registered 282,000 new claims. This is a level never seen in the United States, the previous record dating from October 1982 with 695,000 new requests.
Economists expected an average of 1 million jobless claims with forecasts ranging from 250,000 to 4 million.
A major crisis
In just a few weeks, the coronavirus and the containment of millions of people it has caused has almost wiped out the world economy, to the point that economists expect the most severe recession in modern history, perhaps worse than during the Great Depression.
The current crisis promises to be more severe than that of 2008, because this time it affects not only the financial system but the entire real economy, with a collapse in a few weeks of production and therefore of supply, and also demand, because of billions of people in confinement.
With Reuters and AFP