“US Labor Market Is In Free-Fall” – 10 Million Americans Have Filed For Unemployment In Past 2 Weeks

• “US Labor Market Is In Free-Fall” – 10 Million Americans Have Filed For Unemployment In Past 2 Weeks
  by Tyler Durden, https://www.zerohedge.com/
  After last week’s unprecedented 3.3 million surge in initial jobless claims, this week’s is even more unprecedented-er, adding a stunning 6.648 million (just 100k away from our estimate of 6.5million) for a two-week sum of 10 million new Americans claiming unemployment benefits…
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  As @GreekFire noted, “We’ve lost 46 jobs for every confirmed case of COVID-19 in the US…”
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  The 6.648mm print is worse than the worst of 50 estimating analysts’ expectations. Breaking down by state (which is one week lagged and so represents the prior week’s 3.3mm print detail), California, Pennsylvania, and New York dominate…
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  read more.

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