The latest Initial Jobless Claims report showed that 6.6 million people filed claims during the week ending April 4. This is just below the 6.8 million recorded for the week ending March 28, which was actually revised higher by just over 200,000 claims. It is possible claims for the week ending April 4 could also be revised higher, perhaps even marking a new record high.
For the last three weeks, Initial Jobless Claims have equaled 6.6 million, 6.8 million and 3.3 million respectively, for a staggering nearly 16.8 million total job losses. Unfortunately, this number is expected to climb as much of the economy remains shutdown.
