Usually in economic slowdowns, it’s low-income workers who get cut first, but the recent increase in unemployment insurance (UI) claims in the US has been more broad-based.

Looking at the Census’ Household Pulse Survey from March 29 to April 10 and comparing it to a week around the same time in 2022, the number of UI claims by Americans making more than $200,000 moved up by some 500%. During roughly the same period last year, 18,100 Americans at this salary level had applied for initial UI. Now that number has climbed to 113,800. READ MORE