Bill Diviney, a Senior Economist at ABN Amro, expect the US unemployment rate to peak at 18%, before rapidly easing as most newly unemployed appear to be furloughs. Key quotes “Our bottom-up analysis of the labour market suggests a further 7-8mn could be filing new jobless claims over the coming weeks, which would lead to a peak in the unemployment rate of 18% in April or May (depending on how quickly new claims are made or processed).” “After peaking, we expect unemployment to decline almost as rapidly as it rose for a time, but settling at a level well above the pre-pandemic low, we expect it to end the year at 9.4%, almost 5pp higher than February’s 3.5%.” “Almost all of the 1 million layoffs in the March nonpayrolls data were ‘furloughed’. This suggests employers are seeing this downturn as very much temporary in nature, and that workers can quickly return to their previous jobs once restrictions are lifted.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next EUR/USD: All-in if coronabonds are announced – Nordea FX Street 2 years Bill Diviney, a Senior Economist at ABN Amro, expect the US unemployment rate to peak at 18%, before rapidly easing as most newly unemployed appear to be furloughs. Key quotes “Our bottom-up analysis of the labour market suggests a further 7-8mn could be filing new jobless claims over the coming weeks, which would lead to a peak in the unemployment rate of 18% in April or May (depending on how quickly new claims are made or processed).” “After peaking, we expect unemployment to decline almost as rapidly as it rose for a time, but settling at a level well above… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
