US March Unemployment Surges as the Economic Shutdown Hits Hard

Helmholtz Watson

US Job Losses From COVID-19 Near 30 million

Initial jobless claims 3839K v 3700K estimate
Prior month revised up 15,000 K to 4442K versus 4427K previously reported
Four-week average 5790.25k from 5786.50k

Continuing claims 17992K versus 19476K estimate.
Four-week average 13292.5 K versus 9559.25K

The largest increases in initial claims for the week ending April 18 were in Florida (+326,251), Connecticut (+68,758), West Virginia (+31,811), Louisiana (+12,270), and Texas (+6,504),

The largest decreases were in New York (-189,517), California (-127,112), Michigan (-85,500), Georgia (-72,578), and Washington (-60,980).