Coronavirus drives 6.65 million to file for US jobless benefits

News Image

MG News | April 02, 2020 at 10:55 PM GMT+05:00

April 02, 2020: Another 6.65 million US workers filed for unemployment benefits last week, the most ever recorded, as the coronavirus forces businesses to shut down nationwide, the Labor Department reported Thursday.

The number of first-time applications for jobless benefits for the week ended March 28 was double the number registered in the previous week, which was revised up by 24,000 to 3.3 million -- the previous record, according to the data.

"Nearly every state providing comments cited the COVID-19 virus," the report said, noting a wider impact across more industries, especially hotels, but also manufacturing and retail.

The result far surpassed even the highest of estimates by economists, and reflected the growing damage to the US economy as the pandemic worsens and the growing death toll prompts more states to impose lockdowns.

In the same week of last year, only 211,000 people requested benefits for the first time.

The government last week approved a $2.2 trillion rescue package that includes a massive expansion and extension of unemployment benefits to cushion the blow for the millions of workers left without a paycheck.

The largest increases in first-time claims were in Pennsylvania (+362,012), Ohio (+189,263), Massachusetts (+141,003), Texas (+139,250) and California (+128,727).

AFP/APP

Related News

Name Price/Vol %Chg/NChg
KSE100 175,802.79
267.06M
-1.30%
-2320.78
ALLSHR 106,568.29
617.78M
-1.25%
-1352.24
KSE30 52,497.68
83.82M
-1.25%
-665.92
KMI30 247,323.37
106.69M
-1.37%
-3422.76
KMIALLSHR 68,315.26
363.70M
-1.37%
-952.13
BKTi 49,936.11
23.35M
-1.18%
-594.28
OGTi 34,758.02
9.23M
-1.71%
-605.59
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 64,865.00 65,035.00
63,980.00
595.00
0.93%
BRENT CRUDE 90.94 90.99
89.10
2.84
3.22%
RICHARDS BAY COAL MONTHLY 105.75 0.00
0.00
-1.25
-1.17%
ROTTERDAM COAL MONTHLY 119.80 0.00
0.00
0.10
0.08%
USD RBD PALM OLEIN 1,135.00 1,135.00
1,135.00
0.00
0.00%
CRUDE OIL - WTI 84.15 84.41
82.88
2.37
2.90%
SUGAR #11 WORLD 14.82 14.94
14.39
0.38
2.63%

Chart of the Day


Latest News
July 18, 2026 at 06:57 PM GMT+05:00

Pakistan, Japan explore startup, innovation partnerships


July 18, 2026 at 06:37 PM GMT+05:00

Pakistan's external financing hits $16bn in FY26


July 18, 2026 at 02:34 PM GMT+05:00

Weekly Market Roundup



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg