More than 2.4 million Americans filed for unemployment in the past week

US workers file 2.4 million jobless claims as crisis total tops 38 million

US workers file 2.4 million jobless claims as crisis total tops 38 million

The total number of jobless claims filed in the nine weeks since states began stay-at-home orders that temporarily closed businesses deemed nonessential now tops 38 million.

Initial Jobless Claims in U.S. came in at 2.43 million.

More than 51,000 Maryland residents filed for unemployment last week, the state's labor department announced Thursday.

That program is aimed at workers like contractors and self-employed people who would not normally qualify for traditional benefits - indicating the weekly job losses may be closer to 4.7 million.

Those series are reported with a one-week lag.

"With a ninth straight week of new weekly jobless claims being counted in the millions, although at a lower level than before, one might be tempted to focus on the continuing decline".

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Florida led the nation in unemployment claims for the week ending May 9, with an increase of 48,222 filings. Following were Georgia (14,420), Washington (8,615), NY (4,309), and South Dakota (1,340).

While that's a positive development, openings are gradual and far short of need.

"The sharp rise in continuing claims the week before illustrates that the easing of lockdowns in many states has not yet resulted in any large-scale recall to work for those now on temporary layoff", Capital Economics said in a note Thursday.

Unemployment is expected to remain elevated through the end of next year, and Federal Reserve Chairman Jerome Powell told lawmakers earlier this week that longer-term joblessness risks extended damage to the economy. In the USA, there were 1.55 million cases and 93,400 deaths.

The enormous influx of claims has overwhelmed state unemployment offices. "I think it could be record unemployment numbers for the state of South Dakota. since the Great Depression".

On an non-seasonally adjusted basis, initial claims were 2.17 million last week, following 2.36 million the prior week. That's down 249,000 from the revised number of claims filed in the week ending May 9. The fix was reflected in Thursday's report.

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