Last week's spike in unemployment claims was worse than any during the Great Recession

The number of unemployment insurance claims in the United States has risen by 70,000 in just one week, but economists warn the worst is yet to come.

The Labor Department on Thursday reported 281,000 new unemployment claims for the week ending on March 14, an increase of about 70,000 from the week prior, per Politico. This comes as the global COVID-19 coronavirus pandemic takes a toll on the U.S. economy and forces business to lay off workers, and as the Dow Jones Industrial Average erases just about all of its gains over the past three years.

Subscribe to The Week

Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

SUBSCRIBE & SAVE
https://cdn.mos.cms.futurecdn.net/flexiimages/jacafc5zvs1692883516.jpg

Sign up for The Week's Free Newsletters

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

Sign up
Brendan Morrow

Brendan worked as a culture writer at The Week from 2018 to 2023, covering the entertainment industry, including film reviews, television recaps, awards season, the box office, major movie franchises and Hollywood gossip. He has written about film and television for outlets including Bloody Disgusting, Showbiz Cheat Sheet, Heavy and The Celebrity Cafe.