Apr 2, 2020 - Economy & Business

Jobless claims spike to another weekly record amid coronavirus crisis

Data: U.S. Labor Department via FRED; Chart: Andrew Witherspoon/Axios

6.6 million people filed for unemployment last week, a staggering number that eclipses the record set just days ago amid the coronavirus pandemic, according to government data released Thursday.

Why it matters: Efforts to contain the outbreak are continuing to create a jobs crisis, causing the sharpest spikes in unemployment filings in American history.

  • The colossal number of unemployment filings is worse than most Wall Street banks were expecting.

The big picture: Nearly 10 million Americans have filed for unemployment claims in recent weeks, as businesses around the country shut down in response to the pandemic.

  • But the data lags by a week, so it's almost certain labor departments around the country are still processing claims and people are still applying.

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U.S. coronavirus updates

Data: The Center for Systems Science and Engineering at Johns Hopkins; Map: Andrew Witherspoon/Axios. This graphic includes "probable deaths" that New York City began reporting on April 14.

Virginia Gov. Ralph Northam announced plans Tuesday to make wearing face coverings mandatory statewide for most people over the age of 10 when inside public places. The measure is effective Friday and applies to places like retailers, on public transportation and government buildings.

By the numbers: More than 98,900 people have died from the novel coronavirus and over 1.6 million have tested positive in the U.S. Over 384,900 Americans have recovered and more than 14.9 million tests have been conducted.

Census Bureau reports spike in signs of anxiety and depression since coronavirus

A food bank distribution line in Brooklyn, New York. Photo: Stephanie Keith/Getty Images

Americans are experiencing an increase in anxiety and depression amid the coronavirus pandemic, according to a Census Bureau survey cited by the Washington Post.

Why it matters: The findings indicate a significant uptick in clinical anxiety and depression since the onset of the virus. Despite communities and economies reopening, the COVID-19 outbreak is far from over.

Putin presses forward with Victory Day parade, despite climbing coronavirus cases

Vladimir Putin holds a video conference meeting at his residence on March 26. Photo: Alexei Nikolsky/Russian Presidential Press and Information Office/TASS via Getty Images

Russian President Vladimir Putin ordered his defense minister to start planning the country's annual military parade on Tuesday, saying that the event would take place on June 24, the Wall Street Journal reports.

Why it matters: Russia is reporting the third most coronavirus cases in the world, per Johns Hopkins data. Experts doubt the official numbers, as the country is reporting significantly fewer deaths than the other most-affected nations.