Waiting for the next historic number

Labour issue: A file picture showing a job seeker filling an application form at a career fair in Los Angeles. On Thursday, eyes will turn to the latest data on jobless claims, which have surged to record levels as the public health crisis intensified. — AFP

NEW YORK: As the true economic impact of the coronavirus pandemic becomes clear, economists seeing unprecedented data releases on an almost daily basis are gearing up for even worse to come.

In the United States and the rest of the world, reports showing historic spikes in joblessness and declines in activity have been accompanied with warnings that even more concerning data will follow once the full impact of the lockdown in much of the world becomes clear.