The number of Americans filing new jobless claims likely dipped last week, but not enough to shrink an unemployment rate some economists predict will be the highest since the Great Depression.

Roughly 3.1 to 3.3 million Americans filed initial applications for unemployment insurance last week, economists estimate, down from the roughly 3.8 million people who filed claims the week before and the all-time high of 6.86 million applications filed in late March. 

But if the latest weekly total, which the Labor Department reports on Thursday, matches estimates, it will mean 33 million Americans have applied for unemployment in just seven weeks, a number that exceeds all the jobs created since the Great Recession by more than 12 million.

And JP Morgan Chase believes last week’s claims equaled the 3.8 million applications filed the week

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