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U.S. Initial Jobless Claims Increase to 281,000, Highest Since 2017

Economic IndicatorsMar 19, 2020 08:32AM ET
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© Reuters.

By Noreen Burke

Investing.com - The number of Americans applying for initial unemployment benefits rose more than expected to 281,000 in the latest week from a revised 211,000 the previous week, the U.S. Labor Department said on Thursday, indicating that the coronavirus pandemic is starting to disrupt the U.S. labor market.

According to Investing.com, the consensus forecast had been for an increase to 220,000.

The four-week moving average of initial claims, considered a more stable measure of the labor market trends as it filters out week-to-week volatility, rose to 232,250.

The report also showed the number of people already receiving benefits ticked up to 1.701 million.

The Labor Department said in its report that the increase in initial claims are clearly attributable to impacts from the COVID-19 virus.

"A number of states specifically cited COVID-19 related layoffs, while many states reported increased layoffs in service related industries broadly and in the accommodation and food services industries specifically, as well as in the transportation and warehousing industry, whether COVID-19 was identified directly or not," the report said.

U.S. Initial Jobless Claims Increase to 281,000, Highest Since 2017
 

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Comments (14)
Anthony Anthony
Anthony Anthony Mar 20, 2020 2:26AM ET
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Always the weakest links dragging the society
Francesco Lucchesi
Francesco Lucchesi Mar 19, 2020 9:54AM ET
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wait until GDP figures come out
Justin General
Justin General Mar 19, 2020 9:54AM ET
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let's hope the market crashes by twice as much! at least!!!
Idar Polden
Idar Polden Mar 19, 2020 9:54AM ET
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living in a false dream its not healthy
Zoltan McVeigh
Zoltan McVeigh Mar 19, 2020 9:44AM ET
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Did anyone with a brain expect different?
Idar Polden
Idar Polden Mar 19, 2020 9:44AM ET
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Too many brain less around at the moment.
sunhee jung
sunhee jung Mar 19, 2020 9:27AM ET
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tip of iceberg...
Viktor Veselý
Viktor Veselý Mar 19, 2020 9:16AM ET
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Better than I expected.
samuel white
samuel white Mar 19, 2020 9:11AM ET
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Most americans cant effectively survive a 1 month "event"
John Klan
John Klan Mar 19, 2020 9:07AM ET
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Chinese factories are already ramping back up. This is a two month event.
Dar Smith
Dar Smith Mar 19, 2020 9:07AM ET
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After a 2 month total lockdown. Doesn't look like millennials will accept that here
Jerome Vocke
Jerome Vocke Mar 19, 2020 9:07AM ET
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it's not a 2 month event...Trump was handed a report 18 months with multiple waves and up to 20% unemployment. This will be a problem until an effective treatment or vaccine is developed!
Andrew carson
Andrew carson Mar 19, 2020 9:00AM ET
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Expected
Muhamed Jaffir
Muhamed Jaffir Mar 19, 2020 8:43AM ET
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headed to 20-30% sustained unemployment.
Teh Olympian
Teh Olympian Mar 19, 2020 8:43AM ET
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Sustained? I'm a pecimist, but I'd need an explanation for that.
Cường Nguyễn Hùng
Cường Nguyễn Hùng Mar 19, 2020 8:42AM ET
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agree!! it justonly the beginnin
Nikolas Stark
Nikolas Stark Mar 19, 2020 8:40AM ET
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It just only the beginning.
Rich Golf
Rich Golf Mar 19, 2020 8:35AM ET
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Here we go. So sad
Ryan Mccaffety
Ryan Mccaffety Mar 19, 2020 8:35AM ET
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Oh my oh my its going to keep growing rip before we know it 400k will be jobless
 
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