Updated: 26-Mar-20 09:20 ET

Initial Claims for the Week Ended Mar 21

Updated: 26-Mar-20 09:20 ET

Highlights

• Initial claims for the week ending March 21 increased by 3,001,000 to 3,283,000. That is the highest seasonally adjusted number for initial claims by many miles. The prior record was 695,000 in October 1982.
• Continuing claims for the week ending March 14 increased by 101,000 to 1,803,000, but that number will skyrocket next week as well.

Key Factors

• The four-week moving average for initial claims increased by 765,750 to 998,250.
• The four-week moving average for continuing claims increased by 27,500 to 1,731,000.
• This report breaks the string of 263 straight weeks that initial claims had been running below 300,000.

Big Picture

• The key takeaway from the report is that it underscores for everyone how much worse the current economic situation is than anything else experienced in this modern age. It is a stark reflection that this time is different.

Category	Mar 21	Mar 14	Mar 7	Feb 29	Feb 22
Initial Claims	3283K	282K	211K	215K	220K
4-Wk Moving Avg	998K	232K	215K	214K	210K
Continued Benefits		1803K	1702K	1699K	1720K
4-Wk Moving Avg		1731K	1704K	1710K	1705K