Jobless Claims Continue Rise

I know the focus today is on the -32% GDP (FYI will probably be revised worse), but the important number of the day is jobless claims. And they continue to climb.

While it may seem 1.43 million isn’t so bad compared to the prior weeks, it is still 1.5 times HIGHER than anytime before COVID. You can see the comparison to Feb as well.

The market is anticipating a quick recovery with +20% GDP in Q3. If the economy continues to weaken again that is in jeopardy.