6.6 million people filing claims, in the weekends april 4th, 2020, when we were at peak pandemic, so that is why we watch it closely, and we did actually reach lows in march of this year of people filing and now it is creeping up, the number, so it is beginning to catch people s attentions if it continues to rise, does it mean there are problems in the labor market? not so much. we saw an initial jobless claims fall big 5,000 in yesterday s report. and jerome powell, the federal chair, the chair of the federal reserve, rather, the strength of the labor market is a bullwark against the idea of a recession. it is not too concerning in the labor market statewide. cnbc s rosanna lockwood, we appreciate it. have a good weekend, joining us live from london. still ahead on way too early, we will look at the midterms and in particular a state that could help decide the balance of power in the senate. a state that also has a controversial candidate for governor. we re going to get into th
could already be in a recession, or that it is on the way. but others argue that other economic signs are more positive and therefore we shouldn t be using the r word. for more on this, let s bring in cnbc s rosanna lockwood who joins us from london. good morning. we just got this gdp report and it is typically a warning sign that a recession is coming or already here and it is a little more complicated this time around. how concerned is the business world? it is complicated, jonathan, i think it is because we re all slightly scarred by the great financial crash and we think about the recession in those terms but the market, if you want a bit of relief, it didn t react that much to the contraction, that is because wall street believes it will be a short recession, technically a lot of wall street, a lot of bankers think we re in a recession, two periods of contraction mean a recession but the national economic research
which means subway s upping their bread game. we re talking artisan italian bread, made fresh daily! the only thing fresher than their bread is the guy reading this. subway keeps refreshing and refreshing and refreshing and re- [ ] subway keeps refreshing if you have diabetes, it s important to have confidence in the nutritional drink you choose. try boost glucose control®. it s clinically shown to help manage blood sugar levels and contains high quality protein to help manage hunger and support muscle health. try boost® today. time now for business. and for that, let s bring in cnbc s rosanna lockwood who joins us live from london. u.s. stocks suffered losses last week following the stronger than expected jobs report. how are things shaping up as
celebrations ending, it is pouring with rain in london and a prime minister reshuffle overnight is possible, and if he passes, he doesn t get one for another near and pretty much in the clear for another year. rosanna lockwood, appreciate it. live from london. thank you so much. still ahead, it is a trump biden rematch inevitable, is it inevitable in 2024? we have new reporting on that, and how president biden wants to try to turn around his sinking approval ratings. way too early is coming right back. way too early is coming right back (man) [whispering] what s going on? (burke) it s a farmers policy perk. get farmers and you could save money by doing nothing. just be claim-free on your home insurance for three years. (man) that s really something. (burke) get a whole lot of something with farmers policy perks. (dad) bravo! (mom) that s our son! (burke) we should. we are farmers. bum-pa-dum, bum-bum-bum-bum my a1c stayed here, it needed to be here. ruby s a1c is down with
out gas cards for employees and increase their pay so they can afford to drive their own cars to meet their clients. they were saying things like i m filling up my tank and i m thinking about how much of my paycheck is going down the drain. for more business news, let s bring in cnbc s rosanna lockwood joining us live from london. good morning. let s start with the stock market, declining in the first day of june, a very choppy trading month of may. should we anticipate that that volatility will continue? certainly, if we re going to listen to jamie dimen who you just heard there in the report, the ceo of j.p. morgan chase, he is talking about bracing for an economic hurricane and he used the word he doesn t know if it will be a small storm or hurricane standing and he is talking about a few months down the path from now and interesting comment, around a week ago, he said he was pretty sure about the performance of the markets, and that being said, his comments at the new york fi