Another 3 million Americans filed for unemployment last week
14 Mai, 2020, 19:21 | Auteur: Auguste Feret
More South Dakotans filed initial claims for unemployment last week than the week before; joining an additional three million Americans on the unemployment line.
There are more jobless workers that haven't been able to get their application through.
That means the pandemic has sidelined roughly 23 percent of the American labor force as it put the United States economy into a deep freeze.
A total of $5.3 million was paid out in state benefits, in addition to $13.3 million paid out in Federal Pandemic Unemployment Compensation benefits. Georgia in particular saw jobless claims average a almost 5,000% spike versus the week ending March 14.
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Kentucky and Virginia rounded out the top five hardest hit states, each averaging a more than 3,200% spike in weekly average unemployment claims in the period observed.
Florida, which was one of only seven states to report a rise in unemployment applications over its prior week, has reported problems with its unemployment portal due to unprecedented demand. The state was among the last in the nation to implement a stay-at-home order and thus, experienced a later spike in unemployment claims. Michigan, Nevada, Pennsylvania, Rhode Island, and Georgia all joined California in topping the list with insured unemployment rates over 20%.
"What the continuing claims figures and the insured unemployment rate are more reliably telling us is that the unemployment rate was close to peaking at the start of May, as the number of people returning to their jobs nearly offset new job losers", said Capital Economics chief U.S. economist Paul Ashworth in a note to clients.
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