3/27: MetroIntelligence Economic Update by P. DUFFY

Initial unemployment claims soar to record 3.28 million in weekly report In the week ending March 21, initial unemployment claims were 3,283,000, an increase of 3,001,000 from the previous week’s revised level. This marks the highest level of seasonally adjusted initial claims in the history of the seasonally adjusted series. The previous high was 695,000 in October of 1982. The 4-week moving average was 998,250, an increase of 765,750 from the previous week’s revised average. https://www.dol.gov/ui/data.pdf   Daily dive in consumer confidence lessens, but still down 24.67 percent since start…

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