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Economists forecast another 3 million Americans filed for unemployment last week - Business Insider

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Economists forecast another 3 million Americans filed for unemployment last week

Economists forecast that 3 million Americans filed for unemployment insurance in the week ending May 2, according to Bloomberg data.

"We're continuing to expect claims to remain elevated as now this second wave comes through" different sectors of the economy, Lindsey Piegza, chief economist at Stifel, told Business Insider. Economists expect that the number of Americans filing for unemployment insurance declined again last week, but remained elevated as the coronavirus pandemic continues to slam the labor market.

As much of the US remains in lockdown to curb the spread of coronavirus, "it's not just restaurants closing down, but we're seeing secondary and tertiary impacts on other small businesses and medium-sized businesses," Lindsey Piegza, chief economist at Stifel, told Business Insider. Still, declining claims are a step in the right direction. And, some states have started to slowly open their economies, which may help workers regain employment.

 

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And yet people are advertising for help? What do you make of that? People don’t want to go back to work? Making too much sitting in their home on their butt?

Hmm

This game is going to be a historical disaster. Only planet earth 🌍 will be net gainer. A lot of lessons could be learned if we want to learn. Thanks 🙏

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