The U.S. Department of Labor released the Unemployment Insurance Weekly Claims Report for the week ending April 11st. With the impact of the COVID-19 pandemic, over 22 million Americans filed for unemployment insurance over the past four weeks.
In the week ending April 11st, 5,245,000 Americans filed first-time claims for unemployment insurance, known as jobless claims, on a seasonally adjusted basis, following a revised 6,615,000 claims in the previous week. It is the third consecutive week that jobless claims surpassed 5 million. Jobless claims totaled over 22 million in the past four weeks. The four-week moving average increased to 5,508,500, from a revised average of 4,267,750 in the previous week.
Meanwhile, the seasonally adjusted insured unemployment rate increased by 3.1 percentage points to 8.2% for the week ending April 4th. The number for seasonally adjusted insured unemployment increased to 11,976,000 during the week ending April 4th, from a revised level of 7,446,000 in the previous week. It marks the highest level of seasonally adjusted insured unemployment in the history of the seasonally adjusted series.
The advance unadjusted number of actual initial claims under state programs, released by the U.S. Department of Labor, totaled 4,971,823 in the week ending April 11st. The chart below presents the top 10 states ranked by the total number of actual initial claims over the past four weeks (from the week ending March 21st to the week ending April 11st). California led the way with over 2.8 million job claims, followed by Pennsylvania, New York, Michigan, and Texas with over 1 million jobless claims each. The number of jobless claims in these 10 states accounted for about 55% of the total number of jobless claims over the past four weeks, and also note that nine of these 10 states are ranked as the top ten most populated states in the country.