Meaning of U.S. jobs market data mutates

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Last week’s 6.6 million new U.S. unemployment claims shattered a record, but that doesn't say much about longer-term economic trends. The hope is that the rebound will also be unprecedented, writes richardbeales1.

More than 6.6 million Americans filed claims for unemployment benefits in the week ending March 28, the Department of Labor said on April 2. That followed a record-breaking 3.3 million claims the week before, itself nearly five times the previous record of 695,000, set in 1982.

The employment situation report for March is due to be released on April 3. In February, nonfarm employment increased by 273,000 positions. Economist polled by Reuters expect the March report to show a 100,000 decrease in jobs.

 

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Reuters richardbeales1 Yes put your head in the sand

Reuters richardbeales1 the idea that once the quarantine is over (as if it would just be one day completely gone is ridiculous in the first place) will magically fix the economy is nothing short of fucking stupid

Reuters richardbeales1 DBChirpy as long as Trump is Potus there will be no economic recovery. AP abc cbs nbc SenayKenfe HouseGOP

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