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US jobless claims tally could top 30 million if new filers are close to last week's level
Some economists expect there were at least 4 million workers who filed for state unemployment benefits last week, signaling the job losses could be greater than expected, as states catch up on claims applications. The sudden shutdown of the economy, starting in the second half of March, has resulted in an unprecedented number of layoffs and furloughs, and is expected to send claims for benefits to above 30 million in six weeks. Claims already had reached 26.4 million in the prior five weeks. Total claims filed with states for the week ended April 25 will be reported Thursday at 8:30 a.m. The consensus forecast of ... (full story)
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