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Thursday preview: US jobs market in focus

By Alexander Bueso

Date: Wednesday 01 Apr 2020

(Sharecast News) -

Investors' focus on Thursday will shift back to the US labour market and the latest weekly jobless claims figures.
Consensus expects data for the week ending on 28 March to reveal a further 3.75m increase in the number of first time claimants after a 3.283m surge during the prior week.

The four-week moving average meanwhile is seen jumping from 998,000 to 1.882m.

But Ian Shepherdson, chief economist at Pantheon Macroeconomics is anticipating a 5.5m person jump.

"Google Trends data indicate that the average daily number of searches for "file for unemployment" rose by 60% last week, compared to the week ended March 21," he said.

"If the relationship between the Google data and the claims numbers is linear-we have zero experience of claims at their current level, so this is a guess-it implies that claims jumped last week to more than 5,000K."

"The good news-relatively-is that we are increasingly confident that claims will start to fall in the current week, ending Saturday."

Thursday 02 April

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