Lower-than-expected US unemployment claims

Lower-than-expected US unemployment claims

It seems like the US labor market and economy are making progress in recovering from the pandemic’s effects

The latest report from the Department of Labor showed that in the past week, 576K people filed for unemployment for the first time, plunging to a new pandemic-era low after last week’s unexpected surge. The figures came in ahead of the 703K expected by analysts. This data follows March’s non-farm payrolls of 916K.

At the same time, retail sales surged 9.8% last month as people received and spent their stimulus checks, the Commerce Department reported. The increase topped the 5.8% estimates.

USA500 added 0.7%, and TECH100 went up 1%.

Sources: forexfactory.com, cnbc.com

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