Jobless Claims = 1.48 Million

This morning’s jobless claims report was 1.480 million. While that continues the trend lower, it was above expectations of 1.35 million. This is the second week in a row that claims have come in higher than expectations. The number of people getting benefits fell below 20 million for the first time in two months.

There’s also a concern about a surge in coronavirus cases. States like Texas and Florida have seen major spikes. Apple closed some of its stores in Houston. Disney said it will delay the opening of its parks in California.

Also this morning, the government said that the U.S. economy fell at a 5% annualized rate during the first quarter. That’s the same number as before. Bear in mind that the first quarter began nearly six months ago and ended three months ago. We’ll get the first report on Q2 GDP in another month.

Posted by on June 25th, 2020 at 10:00 am


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