The median economist estimate for jobless claims in the week ending May 16 is 2.4 million, according to Bloomberg data. The Labor Department will release the official report Thursday. While it would be another week of declining claims, the number of Americans filing for unemployment is still highly elevated. “We are becoming less hopeful of a quick drop in jobless claims below the one million mark, which had seemed likely to come as soon as early June,” Ian Shepherdson, chief economist at Pantheon Macroeconomics, wrote in a Wednesday note. Visit Business Insider’s homepage for more stories.
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