Initial jobless claims predicted to be 3 million.
New filings would be 44% of March 27 apogee.
More than 33 million people will have lost their jobs in seven weeks.
Lifted restrictions in several states have not yet improved layoffs.
Americans continued to be laid off from their jobs at a record pace as the shutdown of commercial life reaches further and further into labor market spreading disruption throughout the US economy.
Initial unemployment claims are expected to be 3 million in the week of May 1 raising the total to over 33 million in seven weeks. Continuing claims are projected to climb to 19.905 million from 17.992 million.
While the collapse of employment in the US is an economic and personal tragedy it has ceased to be a market one.
The labor market disaster, specifically jobless claims have largely been absorbed into price levels and, barring surprises, equities, currencies and bonds are focused on the future. When and if the economy begins to show signs of the long road back to normality is more telling than the latest insurance figures.
This Friday’s US non-farm payrolls will test the thesis whether 20 million lost jobs in a month can truly be priced into markets. The plunge in ADP payrolls by the same number produced no market reaction, but NFP is a market favorite, the premier American economic statistic.
My prediction: -22300K
إخلاء المسؤولية: الآراء الواردة هنا تعبر فقط عن رأي الكاتب، ولا تمثل الموقف الرسمي لـ Followme. لا تتحمل Followme مسؤولية دقة أو اكتمال أو موثوقية المعلومات المُقدمة، ولا تتحمل مسؤولية أي إجراءات تُتخذ بناءً على المحتوى، ما لم يُنص على ذلك صراحةً كتابيًا.
اترك رسالتك الآن