Another three million Americans are expected to have filed for unemployment benefits during the week ending May 2, which brings the total claims over the seven weeks of the Covid-19 lockdown to 33 million.
Some 3.839 million initial jobless claims have been registered in the past week. Florida saw the highest number of initial filings, at an estimated 432,000 on an unadjusted basis, from 507,000 in the week prior.
California reported 328,000 claims – down from 528,000 in the previous week. Meanwhile, Georgia reported an estimated 265,000 and Texas 254,000.
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The economic stone age is near but fear not central banks have a plan... oh I meant plantation for you.
This is going to be the worst recession period of all time