By Matt Rooney
The strongest job market in a generation is officially over, Save Jerseyans.
On Thursday, the New Jersey Department of Labor released awful new employment data; among the eyebrow-raising revelations was the 155,454 initial unemployment claims (not seasonally adjusted) filed in New Jersey for the week ending March 21st. New Jersey saw the 6th largest volume of new claims in the United States last week.
Nationwide, the new claims grand total stood at a jaw-dropping 2,898,450.
The seasonally adjusted U.S. initial claims number is a record 3,283,000. The previous record for a single week was the 695,000 claims filed in October 1982.
Last week’s New Jersey job market collapse is especially ominous since Governor Murphy’s compulsory closure of “non-essential” businesses didn’t take effect until Saturday. This week’s numbers can therefore be expected to be as grisly or far worse than the preceding week.
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