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Breath of fresh air for the US labor market

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Miguel A. Rodriguez
Miguel A. Rodriguez
02 March 2021
Despite the latest improvement, the US labor market remains challenged

The US Department of Labor reported the weekly figures for unemployment claims.

The numbers came in at 730,000, lower than the 828,000 forecasted, thus marking the first time in seven weeks when they dropped below the 800,000 threshold.

On the other hand, the number of people who file for unemployment benefits through pandemic-related programs continues to rise, with more than 19 million Americans receiving compensation.

Along with the jobless claims came the second reading for the fourth-quarter GDP from the US Department of Commerce. The gross domestic product increased 4.1% in the fourth quarter of 2020, missing the 4.2% growth expected.

The market reacted negatively to these latest reports, with USA30 and USA500 losing 0.02% and 0.42%, respectively in premarket trading.

Sources: forexfactory.com, cnbc.com

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.