US Initial Jobless Claims: Forecasting 3.3m for the week ending 28 March – Deutsche Bank

One of the main events to look out for today will be the latest weekly initial jobless claims in the US. Economists at Deutsche Bank forecast the labour figures.

Key quotes

“Following last week’s record 3.283m claims, our US economists are forecasting 3.3m for the week ending 28 March, which as was pointed out last week far exceeds anything seen during the financial crisis, when the peak week in March 2009 was at 665k.”

“Today’s release is actually more important than tomorrow’s jobs report for March, as the end of the survey period for that came before the spike in jobless claims we saw last week, so it won’t be as up-to-date on the current economic situation as jobless claims are.”