The number of Americans filing for unemployment benefits surged to a 30-month high last week, suggesting a pickup in layoffs as the COVID-19 pandemic undercuts economic activity.
Initial claims for state unemployment benefits jumped 70,000 to a seasonally adjusted 281,000 for the week ended March 14, the highest level since September 2017, the Labor Department stated on March 19 (pdf). Data for the prior week was unrevised.
