One Chart Shows Coronavirus’ Stunning Job Losses

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Job seekers wait in line at the JobLink Career [+]

 

The U.S. Department of Labor reported unemployment insurance claims for the week ending Saturday, April 11, came in at 5.245 million, a decline of over 1.4 million from the prior week, but still the third highest weekly total ever recorded. The coronavirus has driven the four-week total over 22 million, and the past seven weeks of claims have been:

Unfortunately the job losses and unemployment claims probably won’t fall to zero or even close to it next week and above average claims will probably persist for the next few weeks and maybe even a month or two.

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