The latest report from the Department of Labor showed that in the past week, 576K people filed for unemployment for the first time, plunging to a new pandemic-era low after last week’s unexpected surge. The figures came in ahead of the 703K expected by analysts. This data follows March’s non-farm payrolls of 916K.
At the same time, retail sales surged 9.8% last month as people received and spent their stimulus checks, the Commerce Department reported. The increase topped the 5.8% estimates.
Sources: forexfactory.com, cnbc.com