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Lower-than-expected US unemployment claims

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Miguel A. Rodriguez
Miguel A. Rodriguez
17 February 2021
The number of claims reached the lowest point in two months

The number of people who filed for the first time for unemployment claims turned out to be lower than the 828,000 expected, the figures coming in at 779,000, according to the latest report from the US Department of Labor. It is the second consecutive reading when the numbers show a decrease.

It is also the lowest reading since November 28, and it shows a slow recovery of the US economy from the COVID-19 pandemic.

The markets’ reaction was largely unchanged: USA30 dropped 0.1%, while USA500 and TECH100 gained 0.1% and 0.3% respectively. The sentiment continues to be boosted by the expectation of a new US stimulus package. According to the Wall Street Journal, President Joe Biden could be open to compromise on the size of the previously touted $1.9 trillion fiscal aid.

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Sources: forexfactory.com, investing.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.