Article Hero

USA: 36 million jobs lost in the past 2 months

1589464423.jpg
Miguel A. Rodriguez
Miguel A. Rodriguez
14 září 2020
Millions more lost their job in the past week.

The latest jobless claim report shows that close to 3 million people filed for the first time for unemployment benefits last week. The 2.98 million exceeded analyst’s expectations of 2.5 million.

In just two months, more than 36 million people have been left unemployed by the pandemic.

On the other hand, analyst expectations were met when they stated that a downtrend would follow. Nomura economist Lewis Alexander believes that "Initial jobless claims will likely moderate further from historic levels in the week ending 9 May." Last week, the most significant number of claims was in Connecticut – 262,542. Overall, the weekly decline was of 195,000.

Nevertheless, experts believe that once the economy fully reopens, everything will go upwards, because the job losses are temporary.  

USA30 lost 330 points. USA500 and TECH100 lost 0.9%, and 0.8%, respectively. 

See the difference when trading with CAPEX.com by accessing elite features:  

  • Stellar custom service 
  • Powerful WebTrader platform and mobile app 
  • High-end integrated trading tools  
  • Full license and regulation from top regulators

Sources: cnbc.com, forexfactory.com

disclaimers_articles

article_share_title

article_rating_title

awful
ok
great
awesome

read_more

Miguel A. Rodriguez
Miguel A. Rodriguez
financial_writer

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