US jobless claims forecasts range is huge, guesses as high as 4 million for the week

Given the wave of lay offs and job losses the previous week’s number is of little use as a guide: 281K

  • Citi’s estimate is at 4 million (as is Oxford Economics)
  • BOA, HSBC are at 3m
  • TD, Capital Economics and Pantheon are at 2.5m
  •  Goldman 2.25m
  • Barclays, JPM Asset Mgmt 2m
  • UBS is at 860K

Such a wide range makes the ‘median consensus’ estimate of little value (its 1.64m FWIW) 

The data point is for the week ended March 21 

Due at 1230GMT on 26 March 2020