Record number of unemployment claims likely much higher than 3.28M

Darnell Taylor
March 27, 2020

The number of people without jobs in the U.S. has surged to a record high as the economy goes into lockdown due to the coronavirus pandemic.

The state numbers come as the U.S. Department of Labor reports more than 3.2 million first-time unemployment claims nationwide.

There was also a disparity in Texas, where the state's workforce commission said more than 800,000 people tried to file unemployment claims last week and the DOL reported just 155,657.

A survey by Dow Jones found economists expected about 1.5 million unemployment claims.

More information about unemployment benefits and resources for business owners can be found on the EDD website. The previous high was 695,000 claims filed in the week ending October 2, 1982.

Powell made his remarks before the unemployment numbers were released.

Federal government increases COVID-19 wage subsidy to 75 per cent
He suggested that Canadians not worry about the future too much right now since there is enough to worry about today. Trudeau says the government is also looking at extending lower-interest credit directly to consumers.

The good news, if there is any good news in this, is that between state unemployment insurance and the additional funding that will be coming from the federal stimulus bill, many of these people will have a significant amount of their weekly wages replaced.

"None of us know where this is headed", Peach said. "States continued to cite services industries broadly, particularly accommodation and food service".

Peach said it's likely many early job losses are concentrated in the leisure and hospitality sector.

"Because of the unprecedented volume, which are, you know I don't know 100 times or a 1,000 times higher than normal and the fact that because of the shutdown we've forced state workers to go into teleworking and the phone systems are crashing and overloading", Hogan said during a Thursday interview on Washington's Fox 5.

A new video from the Employment Department shows step-by-step details for filing an online claim.

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