The consensus on jobless claims is 5.0 million
Bank of America Global Research discusses its expectations for tomorrow's US initial jobless claims for the week ending April-4.
"Last week we released our initial forecast of 6.5mn for initial jobless claims during the week ending April 4. After reviewing data from local news reports to gather an assessment by state, we think that 6.5 million claims is a reasonable forecast," BofA notes.
"For 16 states, we found either specific information or enough to back out an implied number, calculating a total of 2.3mn for the upcoming report which matches the week ending March 28 for these 16 states. Assuming the other states we don't have information on comes in similar to the week prior, we are on track for close to 6.5 million jobless claims,"BofA adds.
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