More than 36 million Americans have now filed unemployment claims over the past 8 weeks.
While the numbers have been declining since the March 28 peak, joblessness remains pervasive through the U.S. even as states continue to come back online slowly following the economic shutdown.
According to the latest figures, those displaced are still not being brought back to work under a freeze that was supposed to last weeks but now has extended for nearly two months. Continuing claims rose by 456,000 to a record 22.83 million, after the previous week's total was revised down to 22.38 million.
"The numbers ... are still alarming of course but with more reopenings occurring in the coming months they should continue to recede," said Peter Boockvar, chief investment officer at Bleakley Advisory Group. In the most recent reporting period, through May 9, the biggest surge came from Connecticut, which saw 262,542 new cases, according to numbers not adjusted for seasonal factors. Most other states saw decreases in adjusted numbers, with the biggest drops coming in Texas and California .
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