Like the sinking Titanic, every major bellwether on the U.S. economy is plunging to uncharted depths.
The upcoming week won’t be any exception. The historic pace of layoffs — some 10 million jobs in the last two weeks of March — probably won’t slow much in April, if at all.
Wall Street is bracing for up to 5 million new jobless claims in the first week of the month, suggesting the number of jobs lost because of the coronavirus pandemic has already topped 15 million.
