US set to be inundated with jobless claims

[lovethetrade]

The US faces a tsunami of jobless claims as states from Ohio to Pennsylvania see a surge in the number of people who have been laid off in recent days, overwhelming state labour agencies as cities shut down to halt the spread of the coronavirus.

https://www.ft.com/content/dc4b8186-6989-11ea-800d-da70cff6e4d3

 

[S2007S]

The US faces a tsunami of jobless claims as states from Ohio to Pennsylvania see a surge in the number of people who have been laid off in recent days, overwhelming state labour agencies as cities shut down to halt the spread of the coronavirus.

https://www.ft.com/content/dc4b8186-6989-11ea-800d-da70cff6e4d3

Unemployment should rise above 5% at next report and probably above 7% on the next as millions of people apply

 

[ElCubano]

2 million on the next report.

 

[lovethetrade]

Equity indexes look like they want to push up but if the claims are worse than expected, it may keep the market supressed.

 

[zghorner]

in*un*date:
verb
past tense: inundated; past participle: inundated

1. 1.
   overwhelm (someone) with things or people to be dealt with.

now that i know what that means, i agree lol.