As the coronavirus continues rapidly spreading across the US, economists expect initial jobless claims to hit new multi-decade highs for the second week in a row, with estimates ranging from four to nine million. Fresh data set to be released by the US Labor Department later on Thursday is expected to show an even more dire situation in the country’s labor market and economy than last week, when the filings rose to a record 3.28 million. However, those figures may be corrected and turn out to be even higher as some states were overwhelmed with applications and couldn’t properly process them, according to Reuters.
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