Coronavirus Impact on U.S. Unemployment

Heidi Shierholz, Economic Policy Institute:
The data are last week’s initial unemployment insurance (UI) claims. Initial UI claims jumped from 211,000 three weeks ago to 282,000 two weeks ago to 3.3 million last week. That is nearly a 1,500% increase in two weeks. I have been a labor economist for a very long time and I have never seen anything like this.