Economics
Millions More Jobless Claims to Show Reeling U.S. Economy
- Highest forecast sees 6.5 million filing for jobless benefits
- More workers laid off, states catching up on prior filings
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The number of Americans filing for unemployment benefits is forecast to set a record for the second straight week following 3.28 million in last week’s data, with the darkest prediction expecting the figure to almost double.
The release, due Thursday for the week ended March 28, is now being looked to as a more timely barometer than the payrolls report because it shows how the coronavirus and the sudden economic stop implemented to contain it are reshaping the labor market. The median projection from economists surveyed by Bloomberg puts the figure at 3.5 million, slightly above the prior reading, which was already more than quadruple the previous record.