US Economic Growth Estimates For Q1 Rise Sharply

Indeed, initial jobless claims continue to rise at an unusually high level each week, nearly a year after the pandemic first struck. New filings for unemployment are still increasing at a rate that exceeds or matches the worst points in recessions past. If the rosy economic projections are correct, claims will start posting sharp declines. If not, the recent run of sunny economic forecasts will prove to be premature.  

“We’ve still got a long ways to go [for labor-market healing], though it may not seem that way,” notes Ryan Sweet, an economist at Moody’s Analytics. “We’ve still got a big hole to dig ourselves out of.”

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Disclosures: None.

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