Five Million New Jobless Claims, 22 Million For Month

NBC News reports:

Around 5 million more people filed for first-time unemployment claims last week, as the job market in every sector of the economy continues to be devastated by the coronavirus pandemic.

The staggering weekly number comes as President Donald Trump weighs plans to pull back on the social distancing measures that have shuttered businesses across the country, and reopen parts of the economy as soon as May 1.

State-mandated lockdowns have choked vast portions of the once-booming economy, kicking a total of 22 million people out of work and launching the nation into the worst crisis since the Great Depression.

US weekly jobless claims total 5.245 million vs 5.0 million estimate https://t.co/ti0Rh6z593

— CNBC (@CNBC) April 16, 2020