Jobless Claims Rise Second Straight Week In Truly Ominous Harbinger

Jobless Claims Rise Second Straight Week In Truly Ominous Harbinger

Although the worst GDP report in US history will grab most of the macro headlines Thursday, it was the latest jobless claims numbers that arguably mattered more for markets. After all, everyone knew the US suffered the worst contraction "in living memory" (to quote Jerome Powell) during the second quarter. Analysts and economists have spent the last four months tweaking their estimates and forecasts, so it was little surprise when the first "official" reading betrayed a 32.9% (annualized) slump
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