Welcome to the Jill on Money Coronavirus Market Update.

We are recording this on Wednesday morning,

which means we've gotten the ADP private sector jobs report, which is always weird anyway,

but this one is specifically very strange.

Economists were expecting that 8.7 million jobs would disappear and the total

was just 2.7. Don't ask me about how you misplace 6 million jobs so the news better than expected from ADP.

That said, this report does not sink up very well with the information that we get from the labor department.

So later this morning when you kind of get your coffee and you understand that it is actually

Thursday, you're going to hear about weekly claims for unemployment benefits.

The economists that are polled by Bloomberg in the Wall Street Journal and all these folks

are expecting another 1.8 million Americans filed for unemployment claims.

It's awful and the numbers are really starting to get, you know, ridiculous and out of control,

but then again we'll have hopefully a better

understanding of the components of what's going on in the labor market on Friday

morning when we get the monthly jobs report. I did read a very crazy analysis and Mark I don't know if you saw this this was in Bloomberg.

Almost one-third of unemployment benefits estimated to be

owed to the millions of Americans who lost their jobs. Basically that there's a whole

bunch of people who have not yet received their weekly unemployment benefits,

either from their states or from the federal government.

And there's a gap of $67 billion that is owed to some people.

No wonder people are freaking out about not being able to pay their bills.

Anyway, for now, let's make sure that we answer your questions.

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