Labor Dept: 3M New Jobless Claims, 36.5M In 8 Weeks

Yahoo Finance reports:

The COVID-19 pandemic’s continued impact on the labor market was highlighted Thursday morning when the U.S. Labor Department released its weekly initial jobless claims report.

Another 2.981 million Americans filed for unemployment benefits in the week ending May 9 surpassing economists’ estimates for 2.5 million jobless claims for the week.

The prior week’s figure was revised higher to 3.18 million from the previously reported 3.17 million jobless claims. Over the past two months, more than 36 million Americans have filed unemployment insurance claims.

JOBS

▪️Nearly 3 million people filed for unemployment benefits last week.
▪️That makes 36.5 million jobless claims over 8 weeks
▪️800,000+ people applied for Pandemic Unemployment Assistance, which extends benefits to gig workers

Read the latest https://t.co/iVpK9emL5Q pic.twitter.com/JjsFT7ebXz

— Bloomberg QuickTake (@QuickTake) May 14, 2020

Nearly 3 million Americans filed jobless claims last week, pushing number of benefit seekers to roughly 36.5 million in past 8 weeks https://t.co/DrsEfW6rY2

— The Washington Post (@washingtonpost) May 14, 2020