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Mixed news for the U.S. jobs sector

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Miguel A. Rodriguez
Miguel A. Rodriguez
14 September 2020
Unemployment claims still high, while the unemployment rate got lower.

The latest reports from the Bureau of Labor Statistics and the Labor Department showed mixed data.

On the one hand, 4.8 million jobs have been created in June, much more than 2.9 million expected by economists, which is the most significant single-month gain in U.S. history. The hospitality and leisure sector is responsible for approximately 40% of the growth, with 2.1 million jobs. Simultaneously, the unemployment rate dropped to 11.1% from a previous 13.3%, driven by people returning to work from temporary layoffs. 

On the other hand, the week ending June 27 brought another 1.427 million initial jobless claims, lower than the previous week, but higher than 1.350 million expected.

Markets returned to old habits, and moved against the current: USA30 gained 1.6%, while USA500 jumped 1.24%. TECH100 rose 0.9%.  Since Friday, all three of them are on their way to a week of gains: USA30 is up 2.8%, and USA500 added 3.5%, TECH100 distances itself from the rest by an increase of 4%. 

Read more about the unemployment claims here!

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.