Economists forecast another 2.5 million Americans filed for unemployment insurance last week
- The median economist forecast for jobless claims in the week ending May 9 is 2.5 million, according to Bloomberg data.
- If Thursday’s report from the Labor Department is near the estimate, it will mark another consecutive week of declining claims. It will also mean that more than 35 million Americans have been laid off in just eight weeks.
- “While there are glimmers of hope as a reopening tentatively gets underway, the damage wreaked on the economy will take a long time to repair,” said James Knightley, chief international economist at ING.
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Economists expect that the number of Americans filing for unemployment fell again last week, yet remained elevated at a high level as coronavirus-induced layoffs continue.
The median economist estimate for jobless claims in the week ending May 9 is 2.5 million, according to Bloomberg data. …continued .
[Source: Business Insider]