KING: Nearly 1.5 million more Americans filed first-time unemployment claim last week, bringing to a stunning more than 47 million the number of Americans who filed for jobless benefits since the pandemic hit in mid-March. CNN chief business correspondent, Christine Romans, breaks down the numbers.</s>CHRISTINE ROMANS, CNN CHIEF BUSINESS CORRESPONDENT: John, states are reopening but unemployment claims are still in the millions. Almost 1.5 million workers filed for unemployment for the first-time last week. That brings it to more than 47 million over the past 14 weeks, either laid off or furloughed. Of people working before the pandemic, the pre-pandemic labor market, 29 percent now have filed for unemployment benefits. Some states hit harder than others. Georgia, 52 percent of the labor force filed. In Kentucky, almost 50 percent. In Oklahoma, more than 41 percent. First-time claims declining since the peak in the final week of march, but we are still seeing numbers really stubbornly high here. Another thing to pay attention to, continuing claims. Those count workers who filed for benefits for at least two weeks in a row. That number is 19.5 million. Coming down but very slowly. These numbers after a dire forecast from the International Monetary Fund. The IMF now expects global GDP to contract by nearly 5 percent this year. The U.S. economy is expected to shrink by 8 percent. Even as the U.S. economy reopens, the layoffs keep happening. Bankruptcies at Chuck E. Cheese, GNC and 24-Hour Fitness. These need layoffs for thousands more. Retailers don't need the same number of workers during the pandemic so you're seeing layoffs there, as well -- John?</s>KING: Christine Romans, thank you for that report. Wish it was better news. Still ahead for us, as COVID cases spike, some big businesses are hitting the pause button.
Nearly 1.5 Million More Americans Filed 1st-Time Unemployment Claims Last Week