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Better-than-expected US Unemployment Claims

Miguel A. Rodriguez
Miguel A. Rodriguez
14 September 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. 

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This information/research prepared by Miguel A. Rodriguez does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. The research analyst primarily responsible for the content of this research report, in part or in whole, certifies that the views about the companies and their securities expressed in this report accurately reflect his/her personal views and consequently any person acting on it does so entirely at their own risk.The research provided does not constitute the views of KW Investments Ltd nor is it an invitation to invest with KW Investments Ltd. The research analyst also certifies that no part of his/her compensation was, is, or will be, directly, or indirectly, related to specific recommendations or views expressed in this report.The research analyst in not employed by KW Investments Ltd. You are encouraged to seek advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit that conforms to your specific investment objectives, financial situation, or particular financial needs before making a commitment to invest. The laws of the Republic of Seychelles shall govern any claim relating to or arising from the contents of the information/ research provided. 

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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.