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Thu Mar 26, 2020, 03:42 AM

Unemployment claims are expected to dwarf the weekly record.

'The Labor Department’s weekly estimate of new claims for unemployment insurance, which will be released at 8:30 a.m. Thursday, typically draws little attention. Not this week: The report will provide some of the first hard data on the scale of the economic damage caused by the pandemic.

Citigroup economists estimate that the report could show that four million people applied for benefits last week. Other forecasters put the number a bit lower. But there is wide agreement that the total will dwarf the previous record of 695,000 new claims, from October 1982.

“In the whole history of initial claims, there’s never been anything remotely close to that,” said Ben Herzon, executive director of IHS Markit, a business data and analytics firm.'

https://www.nytimes.com/2020/03/25/business/stock-market-corona.html?

Eager to see how tr reacts!

4 replies, 329 views

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Reply Unemployment claims are expected to dwarf the weekly record. (Original post)
elleng Mar 26 OP
sellitman Mar 26 #1
still_one Mar 26 #2
gibraltar72 Mar 26 #3
Laelth Mar 26 #4

Response to elleng (Original post)

Thu Mar 26, 2020, 05:31 AM

1. So much winning

Good thing it's just a hoax.

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Response to elleng (Original post)

Thu Mar 26, 2020, 06:36 AM

2. No surprise, which is why this stimulus package needs to get out ASAP

Folks, especially those who work for small business need those unemployment benefits


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Response to elleng (Original post)

Thu Mar 26, 2020, 07:43 AM

3. But it will be classified.

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Response to elleng (Original post)

Thu Mar 26, 2020, 08:27 AM

4. My daughter will add one to the total number. She lost her job this week due to Coronavirus. n/t

-Laelth

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