U.S. unemployment claims surged by over three million for the week ending March 21 to 3.283 million, a record, according the the Department of Labor, and its the first official reckoning of the dev…
as one of the industries hardest hit. Every facet of the business has slowed or halted with shows halted, movie theaters shuttered and furloughs and layoffs from talent agencies to production crews.
“This marks the highest level of seasonally adjusted initial claims in the history of the seasonally adjusted series,” the DOL said in its weekly report of claims by state. The previous high was 695,000 in October of 1982.“The increase in initial claims are due to the impacts of the COVID-19 virus. Nearly every state providing comments cited the COVID-19 virus impacts. States continued to cite services industries broadly, particularly accommodation and food services.
The weekly reports are calculated by state. Monthly unemployment figures – due out next Friday – are also broken out by sector.The numbers came as Congress is on the cusp of approving a $2 trillion-plus rescue package for businesses and consumers.
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