Dow tumbles 800 points
It’s a quiet day on the US economic calendar today, but we won’t be so lucky tomorrow.
Another 1.3 million first-time claims for unemployment benefits are expected in tomorrow’s Labor Department report — the 12th-straight week that initial claims are falling. That’s not necessarily good news, given that they remain above the 1 million mark. Until the coronavirus pandemic, there has never been such an onslaught of claims in so short a time period.
Continued claims, which count people who have filed for unemployment benefits for at least two weeks in a row, are expected to number just below 20 million, a slight decline from the prior week’s 20.5 million.
The story in claims remains the same: while we are seeing improvement it will be a long road to recovery.
In addition to the jobless …continued .
[Original Source: CNN]