More than 51K file for unemployment in Maryland

More than 51K file for unemployment in Maryland

More than 51K file for unemployment in Maryland

If your regular benefits ended since July 1, 2019, have completed regular unemployment benefits to date and file the PEUC application, the OESC said you might be eligible to receive benefits via the PEUC claim.

The department reported that 51,108 people filed for unemployment benefits.

Economists polled by Reuters had forecast claims would total 2.4 million in the latest week. The economy lost a record 20.5 million jobs in April, on top of the 881,000 shed in March. New jobless claims peaked at almost 7 million in the week ending March 28, though they have leveled off since then.

"A couple of large states, Florida and NY, still had increases in their weekly claims, but the majority of states are seeing new claims fall by 20 percent per week", UBS said in a note dated May 15, seen by Yahoo Finance.

In the week ending May 16, California reported the highest number of jobless claims at an estimated 246,000 on an unadjusted basis, up from 213,000 in the previous week.

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A closed Gap store is pictured in Times Square following the outbreak of coronavirus disease in the Manhattan borough of New York City, New York, on March 23. The jobless claims report, the most timely data on the economy's health, could offer early clues on how quickly businesses rehire workers as they reopen and on the success of the government's Paycheck Protection Program (PPP).

"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", Mark Hamrick, the senior economic analyst for Bankrate, said in a commentary Thursday. Economists were estimating 24.25 million continuing claims for the week.

As of Wednesday afternoon, there were more than 4.9 million coronavirus cases and 324,000 deaths worldwide, according to Johns Hopkins University data.

Heidi Chung is a reporter at Yahoo Finance.

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