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Here’s How Bad The U.S. Labor Market Gets Whacked This Week
The U.S. government will release its jobs numbers tomorrow for new unemployment claims. The labor market is going to get whacked again. It might not look as bad as the roughly 6.6 million who filed claims the week before, double the number who had filed a week before that, but investment firms are already willing to up the ante on their unemployment claims bets. On Wednesday, Barclays said it now expects jobless claims to come in at 5.5 million for the week ending April 4, up from its previous estimate of 4.5 million. It’s worse than we thought, Michael Gapen, economist for Barclays in New York, wrote in a note to ... (full story)