US: Second wave to keep continuing jobless claims near 20 million – Reuters poll

According to the latest Reuters poll, the US weekly initial, as well as continuing filings for the employment benefits, are likely to remain at higher levels, in the face of the second-wave of coronavirus induced lay-offs.

Key findings

“Expected to sketch a picture of continued labor market distress even though employers hired a record 2.5 million workers in May as businesses reopened.

Initial claims for state unemployment benefits likely totaled a seasonally adjusted 1.3 million for the week ended June 13, down from 1.542 million in the prior week.

The 11th straight weekly drop would push claims further away from a record 6.867 million in late March. 

Continuing claims probably dipped to 19.8 million during the week ending June 6 from the 20.929 million in the prior week.”

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