Hoosier Jobless Claims Continue to Climb
(stock image courtesy: Pixabay/Gerd Altmann)
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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowThe Indiana Department of Workforce Development says another 118,184 Hoosiers filed for unemployment insurance (UI) last week. In comparison, during the same week last year, 2,370 people filed for unemployment.
A new study from the personal finance website WalletHub reveals Indiana last week had the 8th biggest increase in unemployment claims. WalletHub used two metrics to develop its ranking: the number of UI initial claims since the beginning of the coronavirus crisis and the number of claims from last week compared to the same week one year earlier.
Nationally, the latest weekly jobless claims data from the U.S. Department of Labor shows 5.2 million additional people filed for unemployment last week, bringing the four-week total to 22 million.
In comparison, a total of 8.8 million Americans lost their jobs during the Great Recession of 2008.
“The coronavirus pandemic has already claimed 22 million jobs,” said Jill Gonzalez, WalletHub analyst. “While there have been 22.7 million jobs created since the Great Recession, COVID-19 is unfortunately on track to wipe out all of the job gains by the end of this week, according to WalletHub projections.”
The Indiana unemployment rate as of February 2020 was 3.1%. The national unemployment level was 3.5%.
Click here to view the report.