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Unemployment rose to double digits for the first time since 1941 in September 1982, and stood at a postwar high of 10.8% by the end of the year. [11] The total increase in unemployment was 3.6%, which was less than the 1973–75 recession increase of 3.8%, yet still higher than the 2.9% average
The peak of the recession occurred in November and December 1982, when the nationwide unemployment rate was 10.8%, the highest since the Great Depression. In November, West Virginia and Michigan had the highest unemployment with 16.4%, Alabama was in third with 15.3%. South Dakota had the lowest unemployment rate in the nation, with 5.6%.
Unemployment reached a peak of 11% in late 1982, after which recovery began. A factor in the recovery from the worst periods of 1982–83 was the radical drop in oil prices due to increased production levels of the mid-1980s, which ended inflationary pressures on fuel prices.
November – The unemployment rate peaks at 10.8%. November 2 – United States elections, 1982. The Republican Party loses 27 seats to the majority Democratic Party in the House. November 3 – The Dow Jones Industrial Average surges 43.41 points, or 4.25%, to close at 1,065.49, its first all-time high in more than 9 years. It last hit a ...
Yet another record the U.S. labor market would rather not achieve: Continuing claims for unemployment benefits jumped 161,000 to a record 5.73 million, the U.S. Labor Department announced Thursday.
The COVID-19 pandemic has brought initial unemployment claims to 38.6 million in just nine weeks, according to the latest data from the U.S. Department of Labor — shattering historic highs ...
The previous record for unemployment claims in one week was only about one fifth as high, at 695,000 claims in 1982. [ 33 ] More than 38 million Americans lost their jobs and applied for government aid, [ 34 ] [ 35 ] including nearly 4 million people in California , [ 36 ] in the eight weeks after the coronavirus pandemic began.
How to apply for Texas unemployment benefits for good cause. Good cause is determined on a case-by-case basis. Experts at Allmand Law recommend documenting as much as you can to prove that you had ...