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Higher than expected Unemployment Claims Figures

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Miguel A. Rodriguez
Miguel A. Rodriguez
14 September 2020
Another 1.3 million people left unemployed by the pandemic.

The latest data released by the Department of Labor came in, and the figures weren't too golden. 

Just one week ago, another 1.3 million people filed for unemployment benefits for the first time.  The number came higher than the 1.25 million expected.

It marks the 16th consecutive week since the number of claims exceeded one million. Overall, for June and part of July, 17.33 million people became unemployed due to the pandemic. At a quarterly level, more than 51 million became jobless. 

The highest number of claims came from Florida, Texas, and California, with more than 100,000 each.  California is once more the front runner, with more than 200,000 files. Those states happen to be also the most affected by the second wave of infections. According to data from Johns Hopkins University, roughly 3.5 million COVID-19 cases are in the States. 

The market didn’t fail to react: USA500 lost 0.8%, while TECH100 slid 1.5% in early trading. 

Read more about unemployment claims on CAPEX.com!

Sources: forexfactory.com, cnbc.com, finance.yahoo.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.