The number of unemployed Americans continues to grow. Last week, another 6.6 million filed for unemployment. That brings the total for the last three weeks to 16,780,000. The civilian workforce is about 162,913,000. That mean about 10.3% of the workforce has filed for unemployment in the last three weeks, and we have most of April still to come. April's unemployment rate is going to be very ugly.
Here is the memo from the Labor Department on last week's numbers:
In the week ending April 4, the advance figure for seasonally adjusted initial claims was 6,606,000, a decrease of 261,000 from the previous week's revised level. The previous week's level was revised up by 219,000 from 6,648,000 to 6,867,000. The 4-week moving average was 4,265,500, an increase of 1,598,750 from the previous week's revised average. The previous week's average was revised up by 54,750 from 2,612,000 to 2,666,750.
