US Weekly Jobless Claims Skyrocket to over 3mn
The Covid-19 outbreak in the US and the measures to contain it has hit the labour market hard.
The Covid-19 outbreak in the US and the measures to contain it has hit the labour market hard. The number of Americans filing for unemployment benefits in the week ending March 21, skyrocketed to over 3.2mn from only 282,000 in the previous week.
The latest figure is the highest ever, with the previous record being just under 700,000 registered in a week in the end of 1982. On Friday, April 2, the monthly data on the non-farm employment in the US is going to be published, which will give further insight on the labour market dynamics in the country.
Further data and analysis on the US labour market and economy can be found on the CEIC US Economy in a Snapshot – Q1 2020.