US Jobless claims data due Thursday - Goldman Sachs forecasts 5.25m

The median consensus projection is 3.7 million, from last week's 3.283 million

For perspective, last week's number was mind-boggling:

The median consensus projection is 3.7 million, from last week's 3.283 million

And the scale of job losses is set to repeat this week.

When you hear folks projecting a quick recovery for the US economy (and not just there), refresh your memory of this graph. When the economic impact begins to subside, and the health impact has not yet peaked, recovery will be slow and protracted.

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