Jobless Caims in US Reach 22 Million over Four Weeks

Americans filed 5.2 million jobless claims last week, the Labor Department reported Thursday, pushing the four-week total to over 22 million as the coronavirus pandemic continued to send the workforce into a tailspin.

The new report, which covers the week ending April 11, puts cumulative job losses for the past month well ahead of those during the 18-month Great Recession of 2007-2009, until now judged the worst downturn since the Great Depression.

“Since the end of the Great Recession, the labor market added 21.5 million jobs,” Glassdoor Senior Economist Daniel Zhao said in a statement. “In four weeks, all of the job gains from the decadelong recovery following the Great Recession have been erased.”

Source: Websites