Record-breaking 3.28 million people file for unemployment

When Goldman Sachs recently predicted that 2.25 million people would file for unemployment last week, it made headlines nationwide (including here on HousingWire). That figure would have obliterated the previous weekly record that has stood since 1982.
But the actual figure is far, far worse than Goldman Sachs predicted. According to the Department of Labor, nearly 3.3 million people filed for unemployment in the week ending March 21, 2020, an increase of more than 3 million from the week before (282,000 to 3.28 million).
That figure shatters the previous weekly record of 695,000 initial jobless claims, which was set in 1982, and it’s a clear indication of just how bad things are for millions of people around the country. The Labor Department report puts it succinctly: “This marks the highest level of seasonally adjusted initial claims in the history of the seasonally adjusted series.”

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