Due to reported surges in COVID-19 cases, multiple states have taken it upon themselves to issue new lockdowns and stay-at-home orders. This inevitably means that certain businesses are forced to close their doors, hence the continued endangerment of more jobs and businesses.
Over the summer, when communities across the nation backed off from shutdowns, unemployment claims reflected this via lower rates. However, as certain parts of America go back to locking down and issuing shelter-in-place edicts, more and more people are seeking jobless benefits.
On Thursday, the Labor Department confirmed that last week’s unemployment claims skyrocketed from 137,000 to 853,000.
The startling increase in claims for unemployment benefits
Last week’s 853,000 unemployment claims mark a steep hike from the 724,000 that economists previously predicted. Shutdowns, coupled with government-imposed curfews and orders for people not to leave home for “non-essential” reasons, are also linked to a rise in joblessness.
