Published By : Sourabha Parida | April 24, 2020 10:45 AM
Share
Washington, April 24: The number of initial unemployment claims in the US reached 4.4 million last week as the COVID-19 pandemic continues to sweep the nation, raising the five-week total to over 26 million, the Bureau of Labor Statistics reported. In the week ending April 18, the number of people filing for US unemployment benefits decreased by 810,000 to 4.4 million, Xinhua news agency quoted the Bureau as saying on Thursday. The newly released number came after the figure spiked by 3 million to reach a record 3.3 million in the week ending March 21, surged by 3.34 million to reach 6.87 million in the week ending March 28, reached 6.62 million in the week ending April 4, and then fell to 5.2 million in the week ending April 11. The new report also showed that the four-week moving average, a method to iron out data volatility, increased by 280,000 to reach 5.8 million. COVID-19 "continues to impact the number of initial claims and insured unemployment", the Bureau noted. The advance seasonally adjusted insured unemployment rate was 11.0 per cent for the week ending April 11, an increase of 2.8 percentage points from the previous week's unrevised rate, the report showed. According to the Peterson Institute for International Economics's semiannual Global Economics Prospects outlook released earlier this month, the US output is expected to shrink by 8.0 per cent in 2020, and the unemployment rate will probably peak around 20 per cent in the early summer. As of Friday morning, the US reported 869,170 coronavirus cases, with 49,954 deaths, the highest tallies in the world. (IANS)
Prameya English Is Now On WhatsApp Join And Get Latest News Updates Delivered To You Via WhatsApp
You Might Also Like
More From Related News
Kapil Sharma’s Kap’s Café in Canada attacked by Khalistani terrorists!
Ambassadors, Climate scientists, Researchers to attend 2-day SOA Conclave on Climate Change from July 10
From Moradabad, India to Cupertino: Apple Guru Sabih Khan Named New Chief Operating Officer
US-India Trade Talks Get Lifeline: Tariff Deadline Pushed to August 1, 2025
5,000 Indians to Apply: UAE's New Golden Visa Bypasses Trade License and Property Requirements
Israel Launches Fresh Airstrikes on Houthi-Controlled Yemen Facilities
BRICS Finds Common Cause in Criticizing US Economic and Military Actions
3rd edition of Rath Yatra & Bahuda Yatra in Germany’s Düsseldorf
Sydney Odia Community celebrates Bahuda Yatra
Elon Musk Launches 'America Party' to 'Give Back Freedom' After Public Fallout with Trump
Naveen seeks MEA Jaishankar’s aid to rescue Odia youth abducted in Mali
PM Modi Hails Trinidad and Tobago PM Kamla Persad-Bissessar as 'Bihar Ki Beti' During Historic Caribbean Visit
Visiting Visa delayed: Young Hindu couple of Pakistan dies of thirst in Thar Desert amid ‘Dunki’ to reach India!
3 Indians Abducted by Al-Qaeda Terrorists in Mali Factory Attack: MEA Calls for Immediate Release
From Farm to Fuel: The Four "Red Lines", Corn, Soyabean, Ethanol, and Dairy Define the India-US Trade Standoff
Ratha Yatra celebrated at Slough in UK: Thousands of devotees join festivity of devotion & joy
Devotion for Lord Jagannath flows overseas: Rath Yatra at Florida’s Tampa Bay in US celebrated in pomp & gaiety
16 soldiers killed in Pakistan after explosive-laden carrier hits army convoy explodes