The nation’s workforce continues to be dramatically affected by the COVID-19 virus, negatively impacting the number of initial claims and insured unemployed.
Stats from the US Department of Labor for April 16, 2020 confirm:
In the week ending April 11, the advance figure for seasonally adjusted initial claims was 5,245,000, a decrease of 1,370,000 from the previous week’s revised level. The previous week’s level was revised up by 9,000 from 6,606,000 to 6,615,000.
The 4-week moving average was 5,508,500, an increase of 1,240,750 from the previous week’s revised average. The previous week’s average was revised up by 2,250 from 4,265,500 to 4,267,750.
The advance seasonally adjusted insured unemployment rate was 8.2 percent for the week ending April 4, an increase of 3.1 percentage points from the previous week’s unrevised rate. This marks the highest level of the seasonally adjusted insured unemployment rate in the history of the seasonally adjusted series. The previous high was 7.0 percent in May of
1975.
The advance number for seasonally adjusted insured unemployment during the week ending April 4 was 11,976,000, an increase of 4,530,000 from the previous week’s revised level.
This marks the highest level of seasonally adjusted insured unemployment in the history of the seasonally adjusted series.
