Unemployment Claims Last Week at 4.4 Million

Total now exceeds 26.5 million Americans who are jobless.

Over the last five weeks, 26.5 million Americans have sought unemployment benefits, as the total for last week is 4.4 million.  The Labor Department said the COVID-19 virus “continues to impact the number of initial claims.”

The labor market crash has added to collapsing oil prices, loss of retail sales, reduced manufacturing production, declining homebuilding and home sales, reinforcing economists’ contention that the economy entered recession in March.

The economy had created 22 million jobs during the employment boom that began in September 2010 and abruptly ended in February this year.

As the Lord Leads, Pray with Us…

  • For every person and family affected by loss of work or stay-at-home orders that have cancelled their income.
  • For Congress to stay on top of the unemployment numbers by providing relief funds until the economy turns around.

Sources: Reuters, Wall Street Journal


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