More than 3.8 million Americans filed for unemployment last week, a decrease of roughly 600,000 from the previous week but still historically high. In total, roughly 30 million individuals have filed for unemployment since COVID-19 began to spread in the United States.
The seasonally adjusted unemployment rate climbed to 12.4 percent for the week ending April 18, an increase of 1.5 percentage points and the highest level ever recorded in the series.
The same week in 2019, 230,000 Americans filed for unemployment.
Flattening a different curve- initial jobless claims…. yet, there is now an incentive for many not to go back to work, at least not in a hurry. @thedailyshot pic.twitter.com/GmivUbZOuo
— Mark Fleming (@mflemingecon) April 30, 2020