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Record spike in jobless claims may mean Congress has to pass even more stimulus, economists say

From cnbc.com

Last week, Congress passed a record $2 trillion package to combat the economic impact of the coronavirus pandemic. Now, many say it won’t be enough with nearly 10 million Americans out of work in just two weeks. Economists called on lawmakers to pass additional economic stimulus measures to fight the pandemic as new data Thursday showed a record spike in Americans filing for unemployment claims. “Given the incredible deterioration of the labor market in a matter of weeks, federal policymakers will absolutely need to come back and provide more desperately needed relief, and more support for the recovery once the ... (full story)

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  • Category: Fundamental Analysis