Stress in the domestic labor market continued to intensify as 2.98 million individuals filed first-time jobless claims for the week ending May 9, bringing the total to 36 million during the coronavirus pandemic. Those filing continuing claims for the week ending May 2 jumped to 22.83 million. … READ MORE >
unemployment
U.S. April employment report: Prelude to a tragedy
It is difficult to ponder the significance of 20.5 million jobs lost and a 14.7% unemployment rate – the grim toll of the jobs data released on Friday — among the casualties and death that surround us. … READ MORE >
Jobless claims, state by state: Eight have a million or more since the coronavirus outbreak
A cumulative 33.5 million claims of newly unemployed people have been processed by the state agencies in the seven weeks since the economies of most states were shut down to prevent the spread of the coronavirus. … READ MORE >
Initial jobless claims continue to rise to extreme levels
The increase of 3.2 million in jobless claims for the week ending May 2 brings the cumulative total to 33.5 million during the past seven weeks. … READ MORE >
U.S. April employment report preview: A magnitude complete in itself
When the jobs report is released on Friday, we expect that there will be roughly 22 million jobs lost and that the unemployment rate will increase to 17%, both of which will understate the labor dynamics at play across the economy. … READ MORE >
American Badlands: 30 million unemployed in six weeks
In just over six weeks, 30.2 million Americans have joined the ranks of the unemployed, which implies a near real-time unemployment rate of 23.8%. For the week ending April 25, approximately 3.83 million individuals filed for first-time unemployment claims. … READ MORE >
Claims for unemployment insurance continue to overwhelm state agencies
The number of initial claims for unemployment benefits declined in all but five states for the week ending April 18, according to filings processed at state agencies. But this is only the fifth week since the economies of most states were shut down to stop the spread of the coronavirus, and the levels remain extraordinarily high. … READ MORE >
State-by-state initial jobless claims show the spread of the coronavirus
The latest initial jobless claims report shows that layoffs of employees were lower in some of the already hardest-hit states, but were widespread nonetheless. … READ MORE >
Canada should brace for a long recovery: More than 1 million job losses in March
In the month of March the Canadian economy shed over 1 million jobs in comparison to a consensus forecast of 500,000 job losses. … READ MORE >
Initial jobless claims surge by 6.6 million, implying unemployment rate of 14.6%
The carnage in the American labor market continued unabated for the week ending April 4 as first-time jobless claims soared to 6.6 million, which implies a real-time U.S. unemployment rate of 14.6% at a minimum. … READ MORE >