US unemployment claims surge to new record

US unemployment claims surge to new record

US jobless claims rose to a new record of 6.65 million in the week ending March 28, according to the Department of Labour, as the US stepped up their efforts to fight the spread of the coronavirus with many more shops and restaurants forced to close. This bring the two-week total to nearly 10 million and sets the seen for Friday`s job`s report, which is likely to highlight the first signs of the damage to labour markets as a result of the coronavirus pandemic. US futures, which were looking at modest gains at the opening of the US stock market, fell on the news, while the US dollar and gold rose.