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BREAKING: Initial Jobless Claims Hit 3.2 Million, Doubling Expectations

The number of Americans who lost jobs and filed for unemployment was 3.2 million for the week of March 21st according to initial claims from the Department of Labor. This number is more than double previous expectations and is 3 million higher than the previous week.

To put this in perspective, here’s a CNBC story comparing these numbers to previous economic events:

The number shatters the Great Recession peak of 665,000 in March 2009 and the all-time mark of 695,000 in October 1982. The previous week, which reflected the period before the worst of the coronavirus hit, was just 282,000.

This comes as many states experienced technical issues preventing people from filling for unemployment.

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