/Coronavirus economic updates: 3.28 million people filed for unemployment

Coronavirus economic updates: 3.28 million people filed for unemployment

ABC News Corona Virus Economic Impacts

The health crisis has increasingly become an economic one.

The coronavirus pandemic has quickly evolved from a health crisis to a financial one, shuttering businesses, upending entire industries and sending financial markets reeling.

Here’s the latest news on how the COVID-19 crisis is affecting the economy. For more on financial resources available during the pandemic, click here.

Weekly unemployment filings reach new record

A record number of people — 3.28 million — filed for unemployment claims in the week ending March 21, according to U.S. Department of Labor data released Thursday.

That’s an increase of 3 million from the previous week.

The coronavirus pandemic has forced thousands of businesses to close amid government-mandated stay-in-place orders. The outbreak has especially hit the food, service and retail industry hard.

The new staggering figure comes as the unemployment rate was near a 50-year low just weeks ago.

The previous highest week on record was 695,000 unemployment filings in 1982.

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