Why? because the upcoming job losses will be unlike anything the US has ever seen
When the damage the corona virus inflicts on the U.S. jobs market becomes clearer, it could be unlike anything the country has ever seen.
Judging by numerous forecasts from economists, the avalanche of furloughs will easily break the record for most in a single month.
Upcoming weekly jobless claims will shatter the standards set even during the worst points of the financial crisis and the early-1980s recession, with Bank of America forecasting a total of 3 million when the number is released Thursday. Those figures are expected to be so bad, in fact, that the Trump administration, according to several media reports, has asked state officials to delay releasing precise counts.
While the headline unemployment rate is highly unlikely to approach the 24.9% during the Great Depression, it very well could be the highest in almost 40 years, something unthinkable for a jobs market that had been on fire as recently as February.
So, my advice is to stay out during this time. most of the brokerage will reduce the Leverage and increase the spread widening.
Trade safe
Price action Guru
When the damage the corona virus inflicts on the U.S. jobs market becomes clearer, it could be unlike anything the country has ever seen.
Judging by numerous forecasts from economists, the avalanche of furloughs will easily break the record for most in a single month.
Upcoming weekly jobless claims will shatter the standards set even during the worst points of the financial crisis and the early-1980s recession, with Bank of America forecasting a total of 3 million when the number is released Thursday. Those figures are expected to be so bad, in fact, that the Trump administration, according to several media reports, has asked state officials to delay releasing precise counts.
While the headline unemployment rate is highly unlikely to approach the 24.9% during the Great Depression, it very well could be the highest in almost 40 years, something unthinkable for a jobs market that had been on fire as recently as February.
So, my advice is to stay out during this time. most of the brokerage will reduce the Leverage and increase the spread widening.
Trade safe
Price action Guru
