Economy

U.S. futures are rising ahead of unemployment numbers

U.S. futures are rising ahead of unemployment numbers”

Tens of thousands of unemployment claims were filed by Nebraskans in the week ending March 28, according to numbers from the U.S. Department of Labor.

Almost 3.3 million claims were filed in the week ending March 21, smashing the 1982 record, when the number of initial weekly filings reached 695,000.

Last week was "the highest level of seasonally adjusted initial claims in the history of the seasonally adjusted series, the DOL said".

A person sweeps outside the New York State Department of Labor offices, which closed to the public due to the COVID-19 outbreak in Brooklyn, New York City, on March 20, 2020.

An increasing number of states have rolled out stay-at-home orders to try and mitigate the spread of the coronavirus, which has so far infected more than 209,000 individuals in the US, according to Johns Hopkins data as of Wednesday evening. In addition to hotels, the manufacturing and retail sectors have also seen major job losses.

Pennsylvania cited "Layoffs in the transportation and warehousing, accommodation and food services, administrative, support, waste management and remediation services, and healthcare and social assistance industries".

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Last week's jobless claims hit a record-breaking 3.28 million. Estimates in the survey were as high as 5.25 million.

As recently as February, the unemployment rate was at 3.5% nationwide, a 50-year low.

A doctor speaks with a homeless man in San Francisco, California, on March 17, 2020.

With more businesses adhering to the coronavirus restrictions, unemployment claims continue to soar across Whatcom County and Washington state. That pushed the insured unemployment rate up to 2.1% from 1.2%.

Cisco said monthly unemployment claims data separated by county for last month will be made available early next week. "At a certain point, we will get the virus under control and confidence will return".



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