US March Unemployment Surges as the Economic Shutdown Hits Hard

Helmholtz Watson

[color=red][size=5][b]US initial jobless claims 6606K vs 7400k
Prior was revised higher by 219K to 6867K vs 6648K[/b][/size][/color]

Initial jobless claims 6606K vs 7400K estimate
4 week moving average 4265.5 vs 2666.75
Continuing claims 7455K vs 8236K estimate. The prior week was revised to 6867K vs 6648K estimate – revised up 219,000
4 week moving average moved to 3500K vs 2061K last week

The largest increases in initial claims for the week ending March 28
n California (+871,992), New York (+286,596), Michigan (+176,329), Florida (+154,171), Georgia (+121,680), Texas (+120,759), and New Jersey (+90,438),

Largest decreases were in Nevada (-20,356), Rhode Island (-8,047), and Minnesota (-6,678).

Another higher than expected rise in initial jobless claims. With the prior wee(remember when it was the actual initial jobless claims number?).