US jobless claims preview: Economists see weekly record amid coronavirus – Business Insider

Economists are predicting a massive spike in US weekly jobless claims this week amid coronavirus-induced layoffs. Estimates range from 1 million to 4 million jobless claims for the week ending March 21. The low end of that range would be a more than three-fold increase from last week’s number.”This is happening at a pace and a scale that our brains can’t comprehend,” Martha Gimbel, an economist at Schmidt Futures, told Business Insider in an interview.Read more on Business Insider. New US labor market data set to be released this week will give an early indiction of just how much the coronavirus pandemic is damaging the economy. On Thursday, weekly US jobless claims data will be released for the week ending March 21. Economists are anticipating that the report will show a massive
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