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Unemployment Claims: almost 1.5 million more jobless people

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Miguel A. Rodriguez
Miguel A. Rodriguez
14 September 2020
Given the current events, even the predictions are off.

The latest data from the US Department of Labor showed that in the past week, 1.48 million filed for the first time for unemployment benefits. This is the fourteenth consecutive week when the number exceeds one million.  The data came higher than what was expected – 1.32 million. Talking about consistency, this is the second successive week when the jobless claims report was worse than predicted. 

Over the past weeks, President Trump marched on the idea of an economic revival as the lockdown measures ease, but the growing number of unemployed people states otherwise. According to specialists, the numbers are anticipating the future of businesses from the employer's point of view because, in the midst of recovery, people are still getting fired.  

Moreover, another few million are expected to be laid off.

Markets have been under pressure due to recent events, and snapped at the opening today: USA30 dropped 0.7%, while USA500 slid 0.6%. TECH100 lost 0.1%.

See what happened with the unemployment claims since the pandemic started on CAPEX.com!

Sources: forexfactoy.com, cnbc.com, nbcnews.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.