US unemployment: 3.28 million claims in one week

Claims for US unemployment benefits hit an extraordinary 3.28 million last week, it has been confirmed today. Just one week before only 282,000 Americans filed claims.

This jump of over 3 million on the previous week shows that quarantine measures and market turmoil caused by coronavirus have thrown the US economy into chaos. In the official figures all 50 states have reported large jumps in the number of unemployed, with nine reporting increases of over 100,000. Worst hit is Pennsylvania which saw 378,900 new claims last week.

The surge in claims is more than quadruple the previous peak of 695,000 recorded in 1982, with records beginning in 1967. Economists are also predicting that the US is now facing its worst quarter for growth since records began in 1947.

In the light of these figures the planned increase in unemployment benefits in the coronavirus stimulus bill currently working its way through Congress could prove extremely expensive. The figures will also certainly scare Donald Trump who was already suggesting containment measures should be relaxed in order to limit economic fallout.