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Better-than-expected US Unemployment Claims

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Miguel A. Rodriguez
Miguel A. Rodriguez
14 září 2020
The US labor market shows signs of recovery

The latest report from the US Department of Labor came in, and the weekly #unemployment claims figures were better than forecasted.

In the past week, 881,000 people filed for unemployment benefits. It marks the second consecutive week when the figures came in below 1 million. Compared to last week’s numbers, the number of claims decreased with 130,000, showing an improved labor market.

At a state level, Florida reported the most significant decline – 12,312. At the same time, California had the biggest increase – 39,958.

Now, economists are expecting the non-farm payrolls report for August. According to them, the unemployment rate should fall to 9.8% from the current 10.2%. 

The markets' reaction was mixed. Following the report, USA500 traded 0.45% lower, while TECH100 reported a 1.1% loss. USA30 barely moved, trading 0.02% higher. 

Read more job reports on CAPEX.com!

Sources: forexfactory.com, cnbc.com

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Miguel A. Rodriguez
Miguel A. Rodriguez
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Miguel worked for major financial institutions such as Banco Santander, and Banco Central-Hispano. He is a published author of currency trading books.