More than 4m Americans filed for first-time unemployment benefits last week, taking the total over the five weeks since coronavirus lockdowns began to a record 26m and more than erasing the number of jobs created by the US since the financial crisis.
The initial jobless claims total of 4.4m in the week ended April 18 was a decrease of 810,000 from the previous week, the labour department said on Thursday. That compared with economists’ expectations for 4.5m and marked the third week that claims declined, signalling a peak in lay-offs may have been reached.
The number of Americans who have successfully filed claims and been approved for unemployment insurance rose to 11 per cent of the entire workforce by April 11 — the highest on record.
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