Higher-than-expected US Unemployment Claims

Higher-than-expected US Unemployment Claims

The American economy still feels the pandemic’s effects

The latest report from the US Department of Labor shows that its economy is still under the pandemic’s spell.

Last week, 751,000 people applied for unemployment benefits for the first time. The figures came in higher than the 740,000 expected by the market. The figures are well above what was considered to be a normal level before the pandemic. However, it is the third consecutive week when claims were below 800,000.

Now, all eyes are on tomorrow’s non-farm payrolls. The market expects 600,000 jobs to have been created in the last month.

Until then, read here and here about the hottest event in the US – the presidential election!

Sources: forexfactory.com

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