fbpx
doubt

U.S. Jobless Claims: A Nightmare Scenario is Unfolding

March 27, 2020

US jobless claims are out at in the high range estimate at 3283K – very bad.

A close up of a map Description automatically generated

As mentioned in my note this morning, keep in mind that an undefined number of claims went unreported as states’ unemployment insurance program offices were overwhelmed by the massive number of applications both by phone and online. Some states even informed that their phone lines were saturated and their website crashed due to high demand. It means that next week’s data might be very ugly as well, or even worse.

Look at the situation in America’s four largest state economies that represent roughly 1/3 of US GDP:

jobless claims

Total jobless claims in these states are at 496K!

More to come on home.saxo.

Best regards.

Is this article Helpful?

Total Views: 302
 

Sign up to My Spread

EURUSD

EUR/USD: The Pair Conquered Trades with a Clear Positive Note

EUR/USD: The pair conquered trades with a clear positive note and is well on its way to scale 1.19 handle as broad market USD weakness underpins Euro bulls yet again. …

Most Viewed Articles

Most Popular Articles

Technical Analysis

EUR/USD: The Pair Conquered Trades with a Clear Positive Note

EUR/USD: The pair conquered trades with a clear positive note and is well on its way to scale 1.19 handle as broad market USD weakness underpins Euro bulls yet again. …

Latest Market Commentary

Wall Street to Bounce At Open on Premarket Earnings Led Cues

Disney Gains boost premarket US futures, Stimulus talks in focus.  Summary: European market today saw major indices and key equities open on a positive note with overall market momentum gaining …

Popular Articles about Trading

No Result found