UPDATE: 58,641 Nevadans filed for unemployment last week; 330,174 so far in 2020
The running total the past month in the U.S. is now up to 22 million
UPDATE, Friday 3:15 p.m.
The Nevada Department of Employment, Training and Rehabilitation on Friday afternoon released finalized data, showing initial claims for unemployment insurance totaled 58,641 regular initial claims for the week ending April 11.
Per DETR, that figure is dow 20,644 claims, or 26 percent, compared to last week’s total of 79,285 and “is the lowest weekly total seen since the COVID-19 related business shutdowns, but is still more than six times higher than the state’s previous all-time highs.”
According to a DETR press release, through the week ending April 11, there have been 330,174 initial claims filed in 2020, already more than in any full calendar year in state history.
The original story from Thursday morning is below.
In what’s become an eye-opening weekly routine since mid-March, the U.S. Department of Labor this morning released its newest unemployment report, showing that roughly 5.2 million Americans filed for unemployment the week ending April 11.
That brings the running total the past month to about 22 million out of a U.S. workforce of roughly 159 million — easily the worst stretch of U.S. job losses on record.
As the COVID-19 pandemic continues to halt many businesses across the country — including casinos and other high-profile companies in Nevada — some economists say the unemployment rate could reach 20% in April, the highest since the Great Depression of the 1930s.
Still, fewer people filed for jobless claims last week than the week prior.
According to the Labor Department’s report, the advance figure for seasonally adjusted initial claims of 5,245,000 for the week ending April 11 represents a decrease of 1.37 million from the previous week’s revised level of roughly 6.6 million.
“The 4-week moving average was 5,508,500, an increase of 1,240,750 from the previous week’s revised average,” according to the report, which you can read here via a press release. “The previous week’s average was revised up by 2,250 from 4,265,500 to 4,267,750.”
The advance seasonally adjusted insured unemployment rate was 8.2 percent for the week ending April 4, an increase of 3.1 percentage points from the previous week’s unrevised rate, according to the report.
“This marks the highest level of the seasonally adjusted insured unemployment rate in the history of the seasonally adjusted series,” the report reads.
The previous high was 7.0 percent in May of 1975.
“We did a lot of very, very difficult evaluation over a very, very short amount of time and just concluded that this was the right thing for the company at large.”