3.3 million unemployment claims 'just the start': Krugman, Roubini, El-Erian - Business Insider

  • 📰 BusinessInsider
  • ⏱ Reading Time:
  • 22 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 51%

United States News News

United States United States Latest News,United States United States Headlines

'A generation-defining moment': Krugman, Roubini, El-Erian warn that the record 3.3 million unemployment claims are 'just the start'

The number of jobless claims was more than 11 times the figure a week earlier, and more than four times the previous record of about 700,000, set in 1982.

Leading economists warned that the dramatic rise dwarfed increases during previous crashes, and cautioned it could herald more pain to come. The 3.28 million figure was a "huge spike" that is "indicative of the ferocity of the sudden stop hitting the US #economy,""Unfortunately it's just the start, highlighting that we're living through a generation-defining moment," he added.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 729. in US

United States United States Latest News, United States United States Headlines