U.S. Jobless Claims Soar to Once-Unthinkable Record 6.65 Million
I never thought I d see such a print in my lifetime as economist, said Thomas Costerg at Pictet Wealth Management, who had the highest forecast in the Bloomberg survey, at 6.5 million. Claims are likely to stay elevated as more states announce stay-at-home orders, and it would be not unthinkable to see a 20% unemployment rate, more than double the high that followed the last recession, he said.