Get to Know
This special second edition Chart of the Week shows weekly initial jobless claims going back to 2007. Last week’s number came in at an unprecedented 3.3 million people, a near 12x increase from the previous week and 5x the previous largest jump in unemployment. Perhaps more alarming is that this number might not tell the whole story of the unemployment picture.
Ten states saw more than 100,000 people file for unemployment this week; however, due to low staffing and budgets, many claims could not be properly processed and included in the data. Granted, the number is likely higher as multiple states — Illinois included — have issued a stay-at-home order for non-essential employees due to COVID-19. The restaurant, airline, retail, and hotel industries have been hit especially hard with many Americans depending on a stimulus package to tide them over until the virus can be effectively tamed. Many small businesses have been forced to let employees go as they have been unable to generate cash flow.
On a more positive note, Amazon, CVS, and Walmart have been looking to hire thousands of employees as they receive increased demand from customers looking to purchase more goods as a result of being at home. If the virus is contained, the hope is that jobs will pick back up and companies will re-hire relatively quickly, though the question on when that might happen is one that is yet to be answered.
Print PDF > Initial Weekly Jobless Claims Surge Due to COVID-19
12.04.2023
With movie awards season around the corner, some entertainment pundits may use the term “category fraud” to describe races in…
11.30.2023
The holiday spending frenzy is well underway as some of the biggest shopping days of the year, including Black Friday…
11.16.2023
October proved tumultuous for investors as all major U.S. equity indices were negative and the CBOE VIX Index, which serves…
11.08.2023
Earlier this year, the regional banking crisis and eventual collapses of Silicon Valley Bank, Signature Bank, First Republic Bank, and…
11.01.2023
U.S. equities declined for the third consecutive month in October amid an environment of higher yields and underwhelming earnings reports…
10.13.2023
This video is a recording of a live webinar held on October 26 by Marquette’s research team, featuring in-depth analysis…
Research alerts keep you updated on our latest research publications. Simply enter your contact information, choose the research alerts you would like to receive and click Subscribe. Alerts will be sent as research is published.
We respect your privacy. We will never share or sell your information.
If you have questions or need further information, please contact us directly and we will respond to your inquiry within 24 hours.
Contact Us >