Economy COVID-19: US weekly jobless claims surge to record 3.28 million Updated : March 27, 2020 06:17 AM IST Economists say the economy is already in recession. Weekly claims are the most timely labor market indicator. Economists polled by Reuters had forecast claims would rise to 1 million, though estimates were as high as 4 million. The Labor Department attributed the surge to COVID-19, the respiratory illness caused by the coronavirus. Subscribe to Moneycontrol PRO at just Rs.33/- per month for the first year. Use code SUPERPRO. Limited period offer. Available on Web and Android.