Another 2.4 million Americans filed for unemployment benefits last week

Another 2.4 million Americans filed for unemployment benefits last week

Nearly 2 million Pennsylvanians have filed initial unemployment claims since Gov. Wolf ordered the shutdown of non-essential businesses in mid-March, the state said Thursday. The prior week's figure was revised down by 294,000 to 2.69 million after a clerical error by CT labor officials inflated the overall nationwide figure.

Economists surveyed by Dow Jones had been expecting 2.4 million claims last week. CT said last week it had misreported its numbers.

More than 607,000 Maryland residents have filed for unemployment in the last nine weeks. Roughly 38.6 million people have now filed for jobless aid since the coronavirus forced millions of businesses to close their doors and shrink their work forces.

But the tens of millions of Americans who have applied for assistance in just over two months is a staggering number, reflecting a 14.7% jobless rate that is the highest since the Great Depression.

Data for the prior week was revised down to show 2.687 million claims filed instead of the previously reported 2.981 million. The Unemployment Insurance Trust Fund balance May 17 was $99.3 million.

Those series are reported with a one-week lag.

All 50 states have begun reopening; however, most economists, including former Federal Reserve Chairman Ben Bernanke, say that recovery from the COVID-19 shutdown will take at least a few years.

Continuing claims under the federal PUA program totaled 6.12 million as of May 2.

More than one-half of the region's jobless workers - 102,000 - are in Allegheny County. Following were Georgia (14,420), Washington (8,615), NY (4,309), and South Dakota (1,340).

Across the country, almost 39 million Americans have found themselves out of work since mid-March.

While that's a positive development, openings are gradual and far short of need.

Layoffs fueled by the coronavirus pandemic continue to mount. The United States has been the hardest-hit country, with more than 1.5 million cases and over 93,000 deaths.

The enormous influx of claims has overwhelmed state unemployment offices.

California again led all states in the number of new claims filed last week, with 246,115.

The number of regular initial claims fell again week-over-week - down from 22,483 for the week ending May 9. Some economists are looking to the raw numbers for a more accurate read on benefit filings amid challenges with the seasonal adjustment process. The fix was reflected in Thursday's report.

Related Articles

  • United Kingdom  clarifies 14-day quarantine rules

    United Kingdom clarifies 14-day quarantine rules

    EasyJet has said it will offer limited domestic flights, and one global flight to Nice, France, from the middle of June. It is introducing its quarantine just as many other European countries are starting to open up again.
    People in containment zone not allowed air travel

    People in containment zone not allowed air travel

    Aarogya Setu app is mandatory for all except children below 14 years of age, the Civil Aviation ministry said. People will have to get on and off aircraft sequentially and in batches, so as to maintain social distancing.
    China proposes controversial Hong Kong security law

    China proposes controversial Hong Kong security law

    Hong Kong has its own national football team, but not its own anthem - so the Chinese one is played before games. Pro-democracy lawmakers entered the room and tried to reach the seat, but were physically stopped by the guards.
  • Trump to decide on hosting G7 summit in person in coming days

    Trump to decide on hosting G7 summit in person in coming days

    The other G-7 members are Britain, Canada, France, Germany, Italy and Japan, as well as the European Union. The United States also now maintains bans on flights to the country from Europe and Britain.
    Apple Releases iOS 13.5, iPadOS 13.5, and tvOS 13.4.5

    Apple Releases iOS 13.5, iPadOS 13.5, and tvOS 13.4.5

    If you've got an iOS 13-capable device, you can grab your update by going into Settings General Software Update . Also, the UI will now show the passcode field automatically after swiping up from the bottom of the lock screen.
    USA  says pulling out of Open Skies treaty, citing Russian violations

    USA says pulling out of Open Skies treaty, citing Russian violations

    Exiting the treaty, however, is expected to strain relations with Moscow and upset European allies and some members of Congress. The U.S. began notifying the other 33 signatories to the accord that it was giving the required six months' notice to leave.
  • Costco customer kicked out for not wearing mask in store

    Costco customer kicked out for not wearing mask in store

    ET: This article was updated to say that the second incident occurred at Gelson's Markets, not Costco as originally stated . Costco implemented a policy requiring all workers and customers to wear masks or face coverings earlier this month.
    President Trump to stop taking hydroxychloroquine soon

    President Trump to stop taking hydroxychloroquine soon

    Mike Kelly and his wife Victoria upon arrival at Erie International Airport in Erie, Pennsylvania on October 10, 2018. Kim believed she would no longer contract the virus because Trump has been promoting it touted the drug as effective.
    Gretchen Whitmer Will Let Some Retail Businesses Reopen Friday in MI

    Gretchen Whitmer Will Let Some Retail Businesses Reopen Friday in MI

    The partial reopening includes two regions - 6 and 8 - what consist of 17 northern MI counties and the entire Upper Peninsula. The two areas that are allowed to reopen are considered regions 6 and 8 in Whitmer's plan.
  • Cooper Expected To Unveil Phase 2 Reopening: How To Watch

    Cooper Expected To Unveil Phase 2 Reopening: How To Watch

    Dever criticized Cooper's order for exempting businesses and companies but not carving out an exception for churches. Retail stores that were allowed to open in phase one at 50% capacity will continue at that level.
    COVID-19 affects six members of Premier League

    COVID-19 affects six members of Premier League

    The 27-year-old also guided Liverpool to two trophies this season, including the UEFA Super Cup and the FIFA Club World Cup. Jurgen Klopp's side is 25 points clear with nine games remaining. "I've mainly just been homeschooling and keeping fit".
    President Trump: 'Surprised' AG Barr won't look into Obamagate

    President Trump: 'Surprised' AG Barr won't look into Obamagate

    Trump responded by assailing Obama and accusing him of an unspecified crime, repeatedly tweeting the phrase " Obamagate ". Obama characterized Trump's response to the crisis as an " absolute chaotic disaster ".