An additional 5.2 million Americans filed for unemployment for the week ending April 11, according to figures released Thursday by the U.S. Department of Labor.
While last week’s number is down from the previous week — when 6.6 million Americans filed for unemployment — the number of Americans that have filed for unemployment insurance in the past month has now topped 20 million.
The advance seasonally adjusted insured unemployment rate hit 8.2 percent for the week ending April 4, which is the highest level in history. The previous high was 7 percent in May 1975.
“[Jobless claims] of 5.25 million is a huge number, but not as big as in weeks past — on the backside of the curve?” First American Chief Economist Mark Fleming posted on Twitter. “Expect the impact to be disproportionate on leisure, hospitality, retail sales, auto manufacturers.”
Developing…