The number of Americans applying for unemployment benefits fell last week to a massive 5.25 million, following four weeks of coronavirus-related shutdowns that erased more than 10 years of job creation.
Figures from the U.S. Labor Department revealed initial jobless claims in the week ended April 11 followed 6.62 million the prior week. The median estimate of economists was for 5.5 million, with projections ranging as high as eight million.
The four-week sum of 22 million filings compares with roughly 21.5 million jobs added during the expansion that began in June 2009.
