Jobless Claims Soar to 3,283,000

Jobless Claims Soar to 3,283,000

Jobless claims rose to 3,283,000 last week, reflecting only the first round of mass layoffs due to the coronavirus pandemic.

Jobless claims are considered the closest thing we have to a real-time indicator of economic conditions, reflecting claims from the prior week. Many pieces of economic data come out with lags of a month or more, which makes it had to rely upon them when the economy experiences a sudden shock.

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