Jobless Claims Rose by More than Three Million Last Week Due to Covid-19
Washington, DC, March 26, 2020-In the week ending March 21, the advance figure for seasonally adjusted initial claims was 3,283,000, an increase of 3,001,000 from the previous week's revised level, according to the Department of Labor.
This marks the highest level of seasonally adjusted initial claims in the history of the seasonally adjusted series.
The previous high was 695,000 in October of 1982. The previous week's level was revised up by 1,000 from 281,000 to 282,000. The four-week moving average was 998,250, an increase of 765,750 from the previous week's revised average. The previous week's average was revised up by 250 from 232,250 to 232,500.
The Department of Labor released the following statement with the stats, “During the week ending March 21, the increase in initial claims are due to the impacts of the COVID-19 virus. Nearly every state providing comments cited the COVID-19 virus impacts. States continued to cite services industries broadly, particularly accommodation and food services. Additional industries heavily cited for the increases included the health care and social assistance, arts, entertainment and recreation, transportation and warehousing, and manufacturing industries.”