US jobless rate set for coronavirus spike as companies lay off workers

Economists predict US weekly jobless claims out this evening could surge by between a million and four million as companies lay off workers. 

Westpac predicts Australia's jobless rate will spike to 11 percent by mid-2020 and that a likely deep recession that will be worse than the global financial crisis a decade ago. 

As government debt spirals, market analyst Russ Mould says future generations will be left with a mind-boggling bill.

Here's my report from this morning's AM