Jobless Claims Jump Back Above 1 Million

After dipping below the million mark for the first time since March, jobless claims rose again last week—a sign of the market's fragility, experts say.

By Staff August 20, 2020

Image: Shutterstock

After a brief dip below the million mark the week before, the number of Americans filing for unemployment claims rose to 1.1 million last week. The unemployment rate currently sits at 10.2 percent; by comparison, in January 2020, it was 3.6 percent. The largest increases in initial claims for the week ending Aug. 8 were in Nevada (4,028), Puerto Rico (3,601), Kansas (2,248), Hawaii (247) and South Dakota (198), while the largest decreases were in New York (21,366), California (19,534), Florida (16,702), Georgia (11,596) and Virginia (10,653).

In Florida, 66,322 people are currently unemployed. Today, the state passed the 10,000-death milestone from the Covid-19 pandemic.

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