The unemployment rate is still almost double compared to the pre-pandemic level
A silver lining might be in sight for the US economy as the latest report from the Department of Labor showed figures below the +1 million published for the past months.
In the last week, 963,000 people filed for unemployment benefits for the first time. The figures came in better than the 1,120 million expected. According to specialists, it is a sign of economic recovery from the pandemic. The last time the claims were under million, was on March 14 – 282,000.
At a state level, the most significant drops in unemployment claims were reported in Florida - -23,180 and New York - -21,905.
The release comes after the non-farm payrolls report, which showed that nearly half of the jobs lost during the pandemic returned on the market. Currently, the unemployment rate is 10.1%. The pre-pandemic rate was 3.5%.
Sources: forexfactory.com, cnbc.com, wsj.com
Users/readers should not rely solely on the information presented herewith and should do their own research/analysis by also reading the actual underlying research. The content herewith is generic and does not take into consideration individual personal circumstances, investment experience or current financial situation.
Therefore, Key Way Investments Ltd shall not accept any responsibility for any losses of traders due to the use and the content of the information presented herein. Past performance is not a reliable indicator of future results.