Arkansas initial jobless claims almost tripled last week

At 8:30 pm the 300 block of Market St. in Phila. is deserted and a sign in the window of the Artist and Craftsman Supply alerts folks that they are closed until further notice

Many economists say the real number of people out work is likely even higher than that since a lot of newly unemployed Americans haven't been able to fill out a claim yet.

A total of 181,062 people in the state filed for unemployment insurance during the week that ended March 28, according to a report by the U.S. Labor Department Thursday.

"That legislation also contains significant incentives for businesses to retain workers and continue paying them, which will put businesses and workers in a better position to resume work and re-boot the economy once the virus is contained". During the Great Recession in 2008-09, total job losses were 8.8 million over 25 months versus a total of 9.96 million initial claims in just two weeks (see chart).

Unemployment claims in IL continue to soar as more residents lose their jobs or are furloughed in the wake of the COVID-19 coronavirus outbreak, according to federal and state data.

The released figures are much higher than forecasts cited by various media, as economists expected the number of claims to stand at around four million.

"We're hoping today's reading will be the peak, but we can't be sure", he said in an analysis.

As of February, New Jersey's unemployment rate was 3.8% and it was adding jobs.

A person sweeps outside the New York State Department of Labor offices, which closed to the public due to the COVID-19 outbreak in Brooklyn, New York City, on March 20, 2020. The largest increases were in Pennsylvania (+362,012), OH (+189,263), MA (+141,003), Texas (+139,250) and California (+128,727).

Nationally, 6.6 million people million jobless claims have been filed.

The latest figures doubled the previous week's record of 3.3 million - bringing the two-week total to almost 10 million.

Pennsylvania cited "Layoffs in the transportation and warehousing, accommodation and food services, administrative, support, waste management and remediation services, and healthcare and social assistance industries".



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