By David Fessler It’s clear that the world has changed due to COVID-19. We are in uncharted territory on so many levels.
Last Thursday, jobless claims shot up 33% from the prior week to 281,000. But that will likely be just the tip of the iceberg.
Goldman Sachs is predicting we’ll see 2.25 million jobless claims in this week’s report.
And some economists are predicting unemployment could hit 10% or more. We haven’t had that many people (about 16.5 million) out of work since the Great Recession.
The virus is also having a big impact on the oil sector. Last Wednesday, oil prices dropped to 18-year lows.
But …read more