In the week ending April 11, an additional 5.245 million initial unemployment insurance claims were filed in the US, as the US economy continues to get crushed by the COVID-19 pandemic.
However, the April 11 week jobless claims were lower than the 5.803 million in claims expected by analysts polled by FactSet. Over the past month, nearly 22 million jobless claims were filed, the highest on record.
Continuing jobless claims was 11.9 million for the latest reported week.
Several analysts and economists expect job losses in April to be as high as 20 million, which would translate into a jobless rate of around 15%.