Jobless Claims Increase by 5.2 Million

Jobless Claims Increase by 5.2 Million

Jobless Claims Increase by 5.2 Million The four-week total for jobless claims has exceeded 22 million.

Nearly all of the job gains since the Great Recession have been lost.

The claims exceeded projections of a total of five million new claims for the week ending on April 11.

Peter Boockvar, Bleakley Group, via CNBC The new numbers include independent contractors who, prior to the passage of the CARES Act, were not eligible to apply for unemployment.

The silver lining in the new jobless claims numbers is they decreased by more than 1.2 million from the previous week.

Peter Boockvar, Bleakley Group, via CNBC