London Daily

Focus on the big picture.
Thursday, Apr 23, 2026

US workers seeking jobless aid near 40 million

US workers seeking jobless aid near 40 million

A further 2.4 million Americans sought unemployment benefits last week, despite hopes that easing lockdown restrictions would help restart the US economy.

The new filings brought the total since mid-March to roughly 38.6 million - almost a quarter of the workforce.

The weekly figures have declined since peaking at almost 6.9 million at the end of March but remain high.

The number of people remaining on benefits also continues to grow.

Treasury Secretary Steven Mnuchin warned this week that the US risked "permanent damage" if the lockdowns continued.

All 50 states in the US have started to reopen but it is not clear whether simply easing restrictions will prompt activity to rebound.

In the week ending 16 May, about 2.2 million people sought unemployment benefits under the government's pandemic relief programme, which expanded eligibility to people such as gig economy workers.

Their numbers, which are reported separately from the regular figures, are likely to grow as more states implement the programme.

"This is so tragic it is almost unfathomable," Diane Swonk, chief economist at Grant Thornton, wrote on Twitter.


Employers in the US cut more than 20 million jobs last month, sending the official unemployment rate to 14.7%, a sharp rise from 50-year lows of about 3.5% seen as recently as February.

Economists have warned that the rate is likely to worsen and remain elevated for several years.

While many of the unemployed said they believed their layoffs were temporary, a recent study estimated that more than 40% of recent pandemic job cuts are likely to be permanent.

Companies such as Uber are among the firms that have announced significant job cuts in recent weeks, as they prepare for a prolonged slowdown.

Retailers have also unveiled scores of permanent shop closures, with Victoria's Secret this week saying it would close some 250 locations in North America, with more expected.

"Overall there is little evidence that the reopening of the economy has, as yet, led to any sudden snap back in employment," said Paul Ashworth, chief US economist at Capital Economics.

Nearly half of US households have lost income since the pandemic lockdowns came into effect two months ago, according to a survey published Wednesday by the US Census. About 37% expect to lose income in the next month.

The effect on spending - which powers the US economy - has already been felt, with retail sales falling a record 16.4% in April, the Commerce Department reported last week.

Newsletter

Related Articles

0:00
0:00
Close
Crypto Scammers Capitalize on Maritime Chaos Near the Strait of Hormuz: A Rising Threat to Shipping Companies
Changi Airport: How Singapore Engineered the World’s Most Efficient Travel Experience
Power Dynamics: Apple’s Leadership Shakeup, Geopolitical Risks in the Strait of Hormuz, and Europe's Energy Strategy Amidst Global Challenges
Apple's Leadership Transition: Can New CEO John Ternus Navigate AI Challenges and Geopolitical Pressures?
Italy’s €100K Tax Gambit: Europe’s Soft Power Tax Haven
News Roundup
Microsoft lost 2.5 millions users (French government) to Linux
Privacy Problems in Microsoft Windows OS
News roundup
Péter András Magyar and the Strategic Reset of Hungary
Hungary After the Landslide — A Strategic Reset in Europe
Meghan Markle Plans Exclusive Women-Focused Retreat During Australia Visit
Starmer and Trump Hold Strategic Talks on Securing Strait of Hormuz Amid Rising Tensions
Unofficial Australia Visit by Prince Harry and Meghan Expected to Stir Tensions with Royal Circles
Pipeline Attack Cuts Significant Share of Saudi Arabia’s Oil Export Capacity
UK Stocks Rise on Ceasefire Momentum and Renewed Focus on Diplomacy
UK to Hold Further Strategic Talks on Strait of Hormuz Security
Starmer Voices Frustration as Global Tensions Drive Up UK Energy Costs
UK Students Voice Concern Over Proposal for Automatic Military Draft Registration
Rising Volatility Drives Uncertainty in UK Fuel and Petrol Prices
UK Moves to Deploy ‘Skyhammer’ Anti-Drone System to Strengthen Airspace Defense
New Analysis Explores UK Budget Mechanics in ‘Behind the Blue’ Feature
Man Arrested After Four Die in Channel Crossing Tragedy
UK Tightens Immigration Framework with New Sponsor Rules and Fee Increases
UK Foreign Secretary Highlights Impact of Intensified Strikes in Lebanon
UK Urges Inclusion of Lebanon in US-Iran Ceasefire Framework
UK Stocks Ease as Ceasefire Doubts in Middle East Weigh on Investor Confidence
UK Reassesses Cloud Strategy Amid Criticism Over Limited Support Measures
UK Calls for Full and Toll-Free Access Through Strait of Hormuz Amid Rising Tensions
Starmer Signals Strategic Shift for Britain Amid Escalating Iran-Linked Tensions
UK Issues Firm Warning to Russia Over Covert Underwater Military Activity
OpenAI Halts Stargate UK Project, Casting Uncertainty Over Britain’s AI Expansion Plans
Starmer Voices Frustration Over Global Pressures Driving UK Energy Costs Higher
UK Deploys Military Assets to Protect Undersea Cables From Suspected Russian Threat
Canada Aligns With US, UK and Australia as Europe Prepares Major Digital Border Overhaul
Meghan Markle’s Planned Australia Appearance Sparks Fresh Speculation
Starmer Warns Sustained Effort Needed to Ensure US–Iran Ceasefire Holds
UK to Partner with Shipping Industry to Rebuild Confidence in Strait of Hormuz, Cooper Says
UK Interest Rate Expectations Ease Following US–Iran Ceasefire Agreement
Starmer Signals Major Effort Needed to Fully Reopen Strait of Hormuz During Gulf Visit
UK Fuel Prices Face Ongoing Volatility Amid Global Pressures and Domestic Factors
Kanye West’s Planned Italy Festival Appearance Draws Debate After UK Entry Ban
Smuggling Routes Shift Toward Belgium as Migrant Crossings to UK Evolve
Ceasefire Offers Potential Relief for UK Fuel and Food Prices Amid Ongoing Uncertainty
Iran Conflict Raises Questions Over UK’s Global Influence and Military Preparedness
Senator McConnell Visits Kentucky to Highlight Federal Investment in Local Projects
Kanye West Barred from Entering UK as Legal Grounds Come into Focus
UK Denies Visa to Kanye West After Sponsors Withdraw from Wireless Festival
Trump-Era Forest Service Restructuring Leads to Closure of UK Lab Focused on Kentucky Woodland Health
Foreign Students in the UK Describe Harsh Living Conditions and Financial Pressures
×