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Unemployment Claims

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Miguel A. Rodriguez
Miguel A. Rodriguez
14 September 2020
Unemployment claims for May fell below expectations.

The number of people who filed for unemployment benefits week by week due to the pandemic is getting lower.

The latest report from the Department of Labor delivered promising data. From an expected 1.55 million, the real number adjusted to 1.54 million. Although it decelerated for ten consecutive weeks, it still remained high from a historical point of view. California showcased the most significant number – an estimate of 258, 000.

Overall, in the past three months, over 44 million filed for unemployment. Now, the unemployment rate fell from 14.7% to 13.3%, pushed by the 2.5 million non-farm payrolls.

The market had no reaction to the news but was moved upon opening by the increased number of new coronavirus cases emerging after some states reopened. USA30 lost 3.4%, while USA500 fell 2.7%. TECH100 shed 1.9%.

Sources: forexfactory.com, cnbc.com, finance.yahoo.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.