(The Center Square) – The economic fallout caused by the coronavirus pandemic includes an unemployment spike caused by government-mandated shutdowns of businesses throughout the state.
The U.S. Department of Labor (DOL) reported 116,438 Minnesota residents filed unemployment claims in the week ending March 21. Government figures indicate that number increased from nearly 4,010 people filing unemployment claims the week of March 14, an increase of 112,428.
Nationwide, the DOL reported its advance figure for seasonally adjusted unemployment claims of 3,283,000 for the week ending March 21. According to the DOL: “This marks the highest level of seasonally adjusted initial claims in the history of the seasonally adjusted series,” noting the “previous high was 695,000 in October of 1982.”
Minnesota residents are under a stay at home order in an effort to slow the spread of the novel coronavirus. Nonessential businesses are forced to close, so claims are expected to continue to rise.