After a few weeks when the number continuously reached post-pandemic lows, the jobless claims jumped unexpectedly last week
According to the Department of Labor’s latest report, in the past week, 412,000 people filed for the first time for unemployment benefits. It marks the highest number since May 15. The market was looking for 360,000 filings.
The increase in unemployment claims comes following a series of steps taken towards normalcy in the payrolls picture. However, employment had improved as vaccination progressed, and cases, hospitalizations and deaths have fallen considerably.
Jerome Powell, Chairman of Federal Reserve: “factors related to the pandemic, such as caregiving needs, ongoing fears of the virus, and unemployment insurance payments appear to be weighing on employment growth.” Nevertheless, a record of 9.3 million jobs is available and waiting to be filled.
Sources: cnbc.com, forexfactory.com
Users/readers should not rely solely on the information presented herewith and should do their own research/analysis by also reading the actual underlying research. The content herewith is generic and does not take into consideration individual personal circumstances, investment experience or current financial situation.
Therefore, Key Way Investments Ltd shall not accept any responsibility for any losses of traders due to the use and the content of the information presented herein. Past performance and forecasts are not reliable indicators of future results.