WASHINGTON (Reuters) – The variety of Americans submitting claims for unemployment benefits shot to a record high of more than 6 million recently as more jurisdictions implemented stay-at-home steps to suppress the coronavirus pandemic, which financial experts say has actually pressed the economy into economic crisis.
SUBMIT PICTURE: A regional dining establishment is seen empty due to the outbreak of the coronavirus disease (COVID-19) in Matawan, New Jersey, U.S., April 1,2020 REUTERS/Eduardo Munoz/File Image
Thursday’s weekly unemployed claims report from the Labor Department, the most timely data on the economy’s health, strengthened financial experts’ views that the longest work boom in U.S. history probably ended in March.
Initial claims for state welfare rose 3.341 million to a seasonally changed 6.648 million for the week ended March 28, the federal government said. Information for the prior week was revised to show 24,000 more applications received than formerly reported, raising the number to 3.307 million.
Financial experts surveyed by Reuters had forecast claims would jump to 3.50 million in the current week, though price quotes were as high as 5.25 million.
” Comparable to last week’s unemployment declares numbers, today’s report reflects the sacrifices American employees are producing their families, neighbors, and country in order