JUST IN: U.S. weekly jobless claims surge to more than 3.28 million, vs. 1.5 million expected.
New claims for unemployment compensation were expected to hit a record-breaking 1.5 million for the week ended March 21, according to economists surveyed by Dow Jones.Squawk Box Americans displaced by the coronavirus crisis filed unemployment claims in record numbers, with the Labor Department reporting Thursday a surge to 3.28 million. The number shatters the Great Recession peak of 665,000 in March 2009 and the all-time mark of 695,000 in October 1982. The previous week, which reflected the period before the worst of the coronavirus hit, was just 282,000. Consensus estimates from economists surveyed by Dow Jones showed an expectation for 1.5 million new claims, though individual forecasts on Wall Street had been anticipating a much higher number. The surge comes amid a crippling slowdown brought on by the coronavirus crisis. The 4-week moving average, which smooths out weekly distortions, was 1,731,000, an increase of 27,500 from the previous week's revised average. Stock market futures were off their lows of the morning but still pointing to a negative opening on Wall Street. Businesses across the country have shut down amid a policy of social distancing aimed at keeping the virus's growth in check. Individual states have reported websites crashing amid a rush to file. Jobless claims are considered the quickest window into current economic conditions. Most data reports in recent weeks reflect periods before the worst of the coronavirus hit and have been showing the U.S. in relatively good shape heading into the crisis. "This is a unique situation. People need to understand, this is not a typical downturn," Federal Reserve Chairman Jerome Powell said Thursday morning on NBC's "Today" show. "At a certain point, we will get the spread of the virus under control. At that time, confidence will return, businesses will open again, people will come back to work," he added. "So you may well see a significant rise in unemployment, a significant decline in economic activity. But there can also be a good rebound on the other side of that." However, the near-term damage will be dramatic. The advance number of actual initial claims under state programs, not seasonally adjusted, totaled 2,898,450 for the period. That's an increase of 2,647,034, or 1,052.9%, from the previous week. At a state level, the numbers were stunning. Pennsylvania increased 20-fold, from 15,439 to 378,908. New York saw its number more than quintuple, rising from 14,272 from the previous week to 80,334, while California tripled to 186,809. Louisiana, where coronavirus infections have risen at a dangerous pace, went from 2,255 a week ago to 72,620. This is breaking news. Check back here for updates. Related Tags Read more: CNBC
So you were wrong again That should make you people very, very happy! Mission accomplished! Had to lay off half my staff. Not sure how long I can keep the rest. Hubby and I going without paychecks still running the company. Next is the rest of us, then it’s our house. Please prayforsmallbusiness Employers are dropping staff like flies! Sad!! Really sad 😢
Line going down Better safe then sorry Winning Gee. I wonder why? Could it be because the Democrats have panicked the country and Democratic governors have INTENTIONALLY shut down their states? Old news,late to the table again! Of course it did with this virus thing. When this pandemic is over they’ll all be back to work. President Trump is the greatest!
Surge in Unemployment Claims Sparks Delayed Checks Amid Coronavirus CrisisAmericans are waiting anxiously for unemployment benefits as state unemployment systems adjust to record levels of claims in the wake of the new coronavirus. ChineseVirus SpeakerPelosi TeamPelosi have you seen this? 😡 Let’s go Congress!!! SpeakerPelosi GOPLeader RepAdamSchiff SenSchumer senatemajldr AOC amyklobuchar BernieSanders RepPressley SenWarren SenateDems HouseDemocrats SenateGOP HouseGOP WhiteHouse realDonaldTrump Is anyone in DC listening to Americans?
Why would CNBC spend advertising dollars on headlines like this? I'll tell you why. There's only one reason. They are anti Trump and want to inject their viewers (and the Twitterverse) with negative news in an effort to brainwash the public for the benefit of their party. KAG Well, duh. And you have to promote your tweet to get people to see your fakenews now Trump2020NowMoreThanEver
Isn’t this the fuck who wants to infect everyone to get it over with to save the economy? Yes it is. This is that exact fuck. blocked. And MSM cheers! Enemy of the people...what did they know and when did they know it? Yeah when you shut down an economy because a China unleashed a virus on the world...
Get Santelli off my timeline. NOW! The msm takes great pleasure in reporting higher unemployment numbers to hurt Trump, but they ignore it or give Obama the credit if it goes down. Yea thanks media for hyping this crap up to unimaginable portions. You will be destroyed next few weeks as the corona narrative falls apart.
More Affected Than Infected
U.S. Unemployment Claims Hit Record 3.28 Million Last Week Amid Coronavirus PandemicU.S. unemployment claims last week hit a historic 3.28 million, the U.S. Department of Labor said Thursday, as the economic devastation of the coronavirus crisis continues to unfold. The figure sha…
Bullshit...expected was way more Numbers are as bullshit low as the virus numbers. Most people couldn't file because the FLORDIA CONNECT website collaspsed on Monday and still isnt up. Rick Scott/badguy. The 1.7mil extra are the ones who just realized they'd get more being unemployed than to work. Duh. What did you think was gonna happen
How did you not know what number to expect? You knew what was shut down. If you were off by 50% why should we trust to prognosis on anything else? Fuk Santelli, block. Slow play by Congress thank you very much Rick Actually some expected more realDonaldTrump why is this a “Promoted” tweet!
Associated Press NewsBREAKING: US unemployment claims soar to 3.3 million -- quadrupling record from 1982 -- as layoffs from coronavirus engulf economy. Go to for more. President Snowflake is gonna lose his shit. Expect a 10 tweet rage over this. dont worry its only for this week maybe itll get better next week The surge in jobless claims is a stunning reflection of the damage the viral outbreak is doing to the economy. The pace of layoffs is sure to accelerate.
The POTUS, his administration, the GOP, Fox propaganda network and his enablers are responsible for every Covid_19 deaths in America. PPEshortage BailOutThePeople WhereAreTheTests WhereAreTheMasks VentilatorShortage TrumpMassMurderer Resist Biden2020 It would've been more but so many people were filing it caused the system to CRÀSH!!!!
It’s gunna get wooorrrse. The new Trump economy. The motive behind the Coronavirus... This is what they don’t want you to hear. • *THEY KEEP DELETING THIS VIDEO* *SHARE, Everyone STAYWOKE DontBeFooled ThisWasInTheirPlan Why would 'they' only expect 1.5 million? Are they stupid? Who is the idiot that CNBC had on there today comparing the death rate and the infection rate to the flu. What a bum he was
Our nation has turned they’re backs on God , 2 Chronicles 7:14 if my people who are called by my name will humble themselves and pray & seek my face & turn from their wicked ways then I will hear from heaven & I will forgive their SIN & will heal their land, REPENT PEOPLE!!! Let’s call this huge spike in the weekly unemployment count as the TrumpBump. For it is tRump who put his head in the sand for 60 days which led to this (eventual) national lockdown. Thanks Dumpster Donny! The US is looking like a tRump Casino. Poorly planned & going broke!
Unemployment claims soared to 3.3 million last week, most in history3.3 million Americans filed for their first week of unemployment benefits last week, as businesses shut down to slow the spread of the coronavirus. That is the highest number of initial claims in history. Unemployment claims soared to 3.3 million last week. That is the highest number of initial jobless claims in history, since the Department of Labor started tracking the data in 1967. Meanwhile Trump Thanks, Donald.
Instacart is fully operational. If you need money, it's a flexible way to earn money while shopping for groceries on your own schedule while helping people. Apply to shop using my link: or promo code MATTL751B1 Your reporter looks so happy about jobless rate .... President Sam Rupani. my precious stock portfolio....hahahhaaa no amount of injected liquidity will save US economy from your greedy ways! peopleoverprofits
It’ll go back down. Patience fake bs news That just prwevevbeen lies to about jobs s Um + don’t forget about me No shit! Lol Really. I'm shocked. I never expected this. Thank you for reporting CaptainObvious
U.S. braces for record surge in jobless claims amid coronavirus falloutU.S. braces for record surge in jobless claims amid coronavirus fallout Follow our live blog for the latest updates on coronavirus: maybe they can fudge the numbers until this whole thing is over You can just hear the orange blob warming up with a chorus of Fake News.
First of all this has nothing to do with our president or past presidents there's a crisis going on and things are shut down when the crisis is over people will go back to work sure there might be still some unemployed but a majority of the people will go back to their jobs. Real number is much higher than this, this number does not include gigeconomy SelfEmployed and contractors. Probably real number over 4 million.
All I know is my husband was laid off today. We have two sons we’re putting thru college for a better life. What better life ? We’re screwed. Big time. I cannot understand why the media and government are obsessed with reporting false lower than reality numbers for things like this. The number of infected is roughly 12x higher than is being reported, the number of people who lost their jobs is at least 4x higher than reported.
This just in the Dow is rebounding Ok but is no one going to comment on his baby example? Bet it is a lot higher than that. You seem so pleased? Fake news IS PROUD and pushed this BS. Ridiculous already. Watch & see who WILL SUFFER. Congress, China & trade!! NOW Boycott them for lying and knowingly pushing this BS They want Biden too win Take him to China. Already paid hunter over a billion.What was that for?
Why is this being promoted?
1 million Californians have filed for unemployment due to coronavirus pandemic, governor says'We just passed the one million mark, in terms of the number of claims, just since March 13,' Governor Newsom said Wednesday. Shut it down! Isis Wow open them borders😂
No shit! Wonder why 🤔 🤣 💀 Who thought they close retail stores, restaurants and any “non essential” businesses and keep it below 2 Mil. ? I keep saying the unemployment rate must be close to 30%. Just shows how out of touch DC is.. Please get this Tea-Party instigator off. The Dow said who cares because we're getting free....
Why do you seem so excited? This not a good thing! It was 1.5-4.0 million expected but you still propagate myths. This is CNBC. DEMOCRATS WET DREAM Lol expected. Number will double next week as people haven’t filed yet due to disaster pay from this week. And yet the stock market is rallying big time still. Not sure if it was baked in already or what but it’s a little concerning and seems still very volatile.
Better than dieing when did they expect it to be 1.5 million, august of 2019? Great Depression 2020 Twice as much as was predicted. Huh! Trump can kiss his second term goodbye I have to what the fuck did you think was going to happen the country is shutting down HELLO! IS THERE ANY ONE OUR THERE WITH COMMON SENSE
And the STOCK MARKET is rising faster than the any Boeing jetliner kuku27 The Spectator Index spectatorindex ·3h BREAKING: US unemployment claims come in at 3.2 million, four times higher than previous record. That’s NOT NEWs, THAT’S SENSATIONALISM!! Shut down the Lamestream Propaganda Machine. Thanks to the scare tactics, the hysteria is running rampant. You libs got what you want. But trump fixed it once, he will fix it again.
Well you can't tell everyone to stay home and not expect the rate to soar If 1.5 million is what you expected then you should be embarrassed at your ignorance As of this morning, NO ONE at EDD is available to take phone calls. Hhhmmm....shitshow in progress. What did you expect you idiots. Isnt this what wanted
Seriously! Let’s focus on living first hey! They told everyone to go home! No shit Sherlock. Thanks trump for lying for 2 months about this. Your the hoax. I can tell you are over joyed with this news! So much winning! Make America Gaunt Again! Fake news. Trump haters
What do you expect with this crisis an economic bonanza? Idiot news people of course unemployment rose when places of employment shutdown during this Chinaflu pandemic. williamlegate Your network is disgusting, no longer a viewer after this. Jobs... 1. Data operators 2. Software Engineers 3. Data manager 4. Video compiler 5. Image maker 6. Graphic designing 7. Animation 8. Customer care 9. Call centres...
What was population growth over same period of time and population. Growing into new working class ages . lizwessel JOBS, JOBS, JOBS! You can blame folks like TomWolfPA or rather TheBIGBADWOLF who played darts with the difference between essential & non-essential business closures. Bad move. NO thinking it thru. Too quick & chosen list was in PANIC MODE. coronavirus layoffs PaGov COVIDIDIOT Covid MAGA
Congratulations media you did it! The media got what they wanted by screaming 'The sky is falling' just to hurt Trump. When Obama was in office and H1N1 killed 12,000 the media told everybody to chill and it wasn't as bad as the flu Just goes to show you that not all people are right and in the know. Can you imagine expecting 1.5 mil during this virus outbreak? Sounds like you shouldn't be listening to these folks
Peter Navarro was just on saying they expected around 4 million jobless claims so it came in under what they expected stop lying it's so old Per the Substance Abuse and Mental Health Services Administration's National Survey, in 2016 2.1 million people were addicted to prescription opioids or heroin. Per the National Institute on Drug Abuse, in 2018 over 67,300 died in the US from drug abuse.
Sounds just like the Obama years minus a worldwide Pandemic TradCatKnight Lol... smh This is what the liberal BS fake news media want, they get what they wish to the devil. TO BE EXPECTED, TRUMP ECONOMY WILL REBOUND TRUMP ROCKS! Winning izzynobre, olhe uma notícia dessa, imagine agora aqui no Brasil, com despreparo maior, o desemprego vai saltar para 30/40milhões. Desemprego causará criminalidade, desemprego causará suicídios.
Well that will happen when the government tells you not to go to work.
danintheoutback According to the article: employment went ⬇️ but the market went ⬆️. Hm. Who the hell thought it was only going to be 1.5 mill? Kudlow? 🙄 Yet investors are investing in the country you try to tear apart. How disappointing this must be! In one week, Jobless Claims surged from 1.8M to 3.3M. Massive recession on the way.
and ask who owns it? How are the MEGA folks enjoying the economic now? Fucking SAD! Well who would of thought? If you lock down this, and shut down that, with no customers, then there is no cash flow or a reason to have employee's. Without thinking long term the problem will get much worse. Good news is that doesnt apply to liberal media nor hollywon't
Sorry. The internet is undefeated I wanted to say that it was impossible under this administration since the economy was the best in years but then I’m a fair person... I can’t blame it all on him knowing that in this case, is not his fault... I’m not as dumb as his followers who blamed everything on Obama
Anybody remember this from this moron RickSantelli Straight hypocrite but he has no problem for Socialism for Boeing who straight covered up flaws and killed people. Get round 3 done, round 4 needs to be right around Da corner! They are not unemployed the federal government just hired 3.3 million people for 600.00 a week
realDonaldTrump FailureInChief Im outta job Would Unemployment numbers be higher than 3.28 Million since the Trump Administration ask State to hold off releasing Unemployment Figures for example State of Ohio TheDemocrats Dems BlueWave DNCWarRoom DNC unemployment UnemploymentNumber LaborDept Too many lies on here
Now remember President Trump called the coronavirus19 a hoax Hilarious that this douche wants to be the voice of reason, when he single handedly created the Tea Partly in 2009 because there was talk of helping people with their mortgages.
Is this supposed to be surprising? Don’t worry!!! SpeakerPelosi and SenSchumer fought hard to ignore YOU and secure money for the Kennedy Center!!! That will fix it!!!! (Don’t look at the witch behind the curtain!) EndTheDems2020 Stop fear mongering and let people get back to work. This is literally a 'look what I did to you' post.
Cat_MarqueeLV And the market goes up 500! I’ve personally known 53 people who’ve lost their jobs in the past 7 days. This is nothing like 2008 or 2000. If the government forces businesses to shutdown and people to hide in their homes this will cause dire consequences to our economy. And people wonder why the administration is concerned about the economy amidst this pandemic? A depression will only prolong the suffering!
So much winning America! The only surprise with that number is the fact that you are Surprised...the whole country has been basically shutdown..what is the surprise? How could you have not seen it coming? Do you have no mental aptitude to know when everything is shut down, you’ll get massive Unemployment
Ok this is bad, but it's no other way to stop the spread of this virus then to keep folks home from work. If other States get their act together and distance for a few weeks we can wipe this out and get back to normal.
YESSSSS.. !!! 👏👏👏👏👏 WE HAVE OBAMA'S ECONOMY BACK! 😏🤔🤨 It took a virus that brought the world to it's knees to do it! CONGRATULATIONS billmaher BarackObama Democrats ThanksSchumer ThanksPelosi ThanksCuomo ThanksDeBlasio Just filed mine yesterday CRAZINESS. Yeah they need a better system for people to apply. The phones are off the hook, no luck getting through. Smh
I wonder why🤔 No duh. You tell people they aren’t allowed to work. What other possible outcome could there be? Almost as bad as when Obama was in office.. It goes to show you how little our government understands America. How could they be that much off expectations. Ineffective government! In case you didn't notice we are in the middle of a WORLD CRISIS TRUMP2020.
This is the TrumpVirus and the TrumpDepression. The lack of testing forced governors to shut down whole states or risk hospital system collapse and high mortality.
1.5 million expected? They know what they’re doing, keep it up NBC. Tell Donald Trump to quit extorted our country and put the cure out here return all our money he extorted And it will rise even further, now that the democrats have made it more financially favorable to sit on your ass at home... 3 million in a country of 300 million is 1%. That's far from disaster.
This doesn’t even include many religious organization employees (schools included) who are out of work and can’t apply for unemployment. They can’t collect benefits. Thank u capitalism very cool Pay it and for however long it takes! I don’t give a rat shit how much it costs! Time to even up the wealth in this country a bit. It tickles me that these mega rich turds are going to finally feel the pinch.
Fake news as usual gotta weigh in!! They are not unemployed, the government just hired 3 million people for 600.00 a week, California Governor just announced they will pay people 1000.00 a week.... that is not being unemployed I’m sure the one time payment of $1400 will help.........
Mnuchin said jobless rate irrelevant at this time. Tell that to the millions out of work. Idiot. What happens when all the stimulus money is used up by next week? Lol watch it all crumble. They should have given us healthcare for all years ago. It's all temporary You have to see this This guy should have been fired after saying he wished everyone just got the virus so we can be done with it.
He’s toast. Thank füçkîng god Ohio's website for filing an unemployment claim hasn't worked for two weeks. rhonda_harbison These don't even reflect the jobs lost that aren't eligible for benefits. The Part time jobs you MUST work to make ends meet.
My God. People are still on CNN debating whether or not it’s a good idea for trump to try to get the country working soon During 2008 financial crisis, highest jobless claims came at the bottom of $spx $dow market, sell the estimates and buy the news? RICKSCREAMTELLI & almost their minds when the claims jumped to 665,000 during Pres. Obama tenure. I see Rick is trying to play it down. I bet he will not blame Trump for anything.
The numbers are still not reflective of unemployment. Most likely it's double or triple. It's not easy to file for unemployment. stunning Futures jumping up +300 🤡🤡🤡🤡 Futures really think they’ve priced this in? Greatest Rick Santelli quote of all time, referring to the IJC , “If you’re told your pregnant with triplets, don’t be surprised when you come home with three babies” SquawkCNBC BeckyQuick JoeSquawk andrewrsorkin jimcramer
Trump’s Depression. History’s Second Great Depression.