Millions more Americans filed for unemployment benefits last week, sending the six-week total above 30 million since the coronavirus pandemic began to shutter businesses across the country.
Initial jobless claims totaled 3.84 million in the week ended April 25 following 4.44 million in the prior week, according to Labor Department figures Thursday. Economists had projected 3.5 million claims.
Continuing claims, or the total number of Americans receiving unemployment benefits, rose by 2.17 million to a record 18 million in the week ended April 18. That sent the insured unemployment rate — which measures the unemployed receiving benefits as a share of the labor market — to a record 12.4%, compared with 1.2% before the crisis.
Florida had the most claims last week, with an estimated 432,500 on an unadjusted basis, followed by California at 328,000 and Georgia at 264,800. Most states reported declines.
–With assistance from Jordan Yadoo.
— By Katia Dmitrieva (Bloomberg)