The Number of Applications for Unemployment Benefits in the United States Broke the 1982 Record
According to the data published by the DOL, seasonally adjusted weekly jobless claims from the week of March 21st spiked to 3.28 million. This is a record figure, which is more than 1427% higher than the previous level. The indicator has grown more than 4 times!
The growth rate in the United States is not an isolated phenomenon. In other countries, the unemployment rate is also rising.
A sharp increase in unemployment on a global scale is likely to adversely affect the global economy, already affected by the coronavirus.