22 million have lost their jobs over the past month—real unemployment rate likely nearing 18%
Another 5.2 million Americans filed initial unemployment claims in the week ending April 11. That brings the total unemployment claims over the past four weeks to 22 million, according to the U.S. Department of Labor.
The total weekly claims fell close to 1.4 million from last week’s 6.6 million initial unemployment claims. Economists had been expecting the report to show the ranks of jobless Americans increasing by 5.5 million.
But these claims are still staggering: The one-week record—before the current streak of multi-million claims—was 695,000 in October 1982.