US, WASHINGTON (ORDO NEWS) — Millions of Americans applied for unemployment benefits last week, bringing the total figure over the past six weeks to more than 30 million.
The number of American citizens applying for unemployment benefits for the first time in the week of April 25 was 3.839 million, according to data from the US Department of Labor.
A week earlier, 4.442 million applications were submitted.
Analysts surveyed by Bloomberg, on average, predicted a decrease in the number of applications to 3.5 million.
The number of people applying for unemployment benefits since March 21 was more than 30 million, that is, about 18.4% of the working-age population.
The number of people continuing to receive US unemployment benefits for the week ending April 18 increased by 2.17 million to a record 18 million.
Restrictive measures introduced to combat coronavirus, cutting reduced business activity, hitting the labor market.
A surge in applications indicates a jump in unemployment above 15% in April. The US Department of Labor will release April labor market data next week.
In March, the US economy lost 701 thousand jobs . Unemployment last month jumped from 3.5% to 4.4%, peaking since August 2017.
Preliminary figures from the US Department of Commerce showed on Wednesday that the world’s largest economy shrank 4.8% year over year in the first quarter. The last time the US GDP fell in January-March 2014 was 1.1%.
Contact us: [email protected]