As the dominoes of the American economy continue to fall, new and deeply DEPRESSING (pun intended) unemployment numbers were reported by the United States Department of Labor.
Initial Claims were 3,283,000 for the week ending in 3/21 (+3,001,000). This is the HIGHEST unemployment claims filed in the single history for, well, EVER!!!
The previous high was 695,000 in October of 1982. The previous week’s level was revised up by 1,000 from 281,000 to 282,000. The 4-week moving average was 998,250, an increase of 765,750 from the previous week’s revised average. The previous week’s average was revised up by 250 from 232,250 to 232,500.
Here is a summary of the report:
You can read the full Department of Labor report here.