The coronavirus economic impact has been keenly felt on unemployment.
Initial jobless claims (due 1230GMT) have been orders of magnitude beyond what has been seen before
- 20 March 3.3+ million
- 27 March 6.8+ m
- 3 April 6.6+ m
- 10 April 5.2+ m
Expected for the number today is 4.5 million (median consensus estimate)
Continuing claims are staggering now also, expected today at 16.7 million.
This terrible news is in the market already so despite the shockingly bad figures they are not expected to have too much of an impact on markets.
