U.S. jobless claims may reach 2.25 million, Goldman Sachs economist estimates

[bronxiteforever]

U.S. jobless claims may reach 2.25 million, Goldman Sachs economist estimates
MarketWatch
Published: March 20, 2020 at 9:42 a.m. ET
By Steve Goldstein

The first real bad U.S. economic data from the coronavirus outbreak was released on Thursday, as initial jobless claims surged 70,000 to 281,000, the highest level in 2.5 years.

But that is not anything compared with what is in store.

David Choi, an economist from Goldman Sachs, says initial claims for the week ending March 21 may jump to a seasonally adjusted 2.25 million. His analysis is based on recent anecdotes from press reports as well as company announcements. Over 30 states have provided preliminary data.
He said that even the most conservative assumption would be claims reaching over 1 million, which would top the record high of 695,000 in 1982.

https://www.marketwatch.com/story/jobless-claims-may-reach-225-million-goldman-sachs-economist-estimates-2020-03-20?mod=home-page

[duforsure]

1. You can bet now

Trump is looking at ways to hide or corrupt the numbers coming out. How do I know that, because he's accused others of doing that, and that 's a tell of his, accuse others of what he's doing or has done.

[bronxiteforever]

3. +1 agree.

[LonePirate]

2. That number is way too low for this week. Next week will probably be five or more times worse.

[bronxiteforever]

4. +1 I don't see how it doesn't given the breadth of this.