By the Numbers: A million new layoffs a week

Jobless claims crossed 1 million for the 20th straight week.
1:05 | 08/07/20

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Transcript for By the Numbers: A million new layoffs a week
He turned down by the numbers to the economy and the millions of Americans now out of work and no longer receiving those 600 dollar week enhanced unemployment benefits. One point two million Americans applied for initial unemployment benefits in just one week that's according to Labor Department data released today had slightly better than. What economists expected but it's still live twentieth straight week. Of historically high unemployment claims and weekly numbers in the top. One million. 695000. That was pretty pandemic record for new unemployment claims in the week and that was back in 1982. There are no similar records from the Great Depression because it unemployment insurance program. Didn't exist back then there is some bit of good news today's jobless number which tracks people who just got laid off was the lowest that we've seen in twenty weeks and at the end of march weekly initial unemployment claims have reached a staggering. Six point nine million which was ten times the record. Sit back in the 1980s. The US unemployment rate was 11%. As of Jan and tomorrow when another jobs report comes out. That number will be updated.

This transcript has been automatically generated and may not be 100% accurate.

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