Investors Brace for U.S. Jobs Data: Live Markets Updates [The New York Times]
Alphabet Inc. - Class C Capital Stock (GOOG)
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Source: The New York Times
Here’s what you need to know:Image supermarket in the Queens borough of New York on Wednesday.Credit...James Estrin/The New York TimesEach day seems to bring unwelcome economic milestones. nother is expected to arrive Thursday with the fourth-straight weekly tally of new unemployment claims likely to be in the millions.head of the Labor Department report, due at 8:30 a.m., the consensus estimate cited by Bloomberg is 5.5 million new unemployment claims. Torsten Slok, chief economist at Deutsche Bank Securities, is expecting a number around eight million. His assumption is based on the earlier inability of many workers to file claims because of technical glitches at overwhelmed state labor departments.If Mr. Slok’s estimate is right, it would bring the cumulative U.S. job losses to 25 million.“ll of the last decade in job gains will be undone in four weeks, which is a truly stunning statistic,” he said. “It tells you the severity of the situation.”nd it will be only the latest measure.
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