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Unemployment Claims close to a new pandemic-era low

Miguel A. Rodriguez
Miguel A. Rodriguez
04 May 2021
The frenzy regarding the drop in the number of unemployment claims was cut short with today’s figures

According to data from the US Department of Labor, 553,000 people filed for the first time for unemployment in the past week. Even though it marked another pandemic-era low, it came above the 545,000 estimates. However, the figures are below 600,000 for the third consecutive week, dipping to the lowest level since March 2020.

During the two-day meeting, Fed stated that “indicators of economic activity and employment have turned up recently, although the sectors most adversely affected by the pandemic remain weak.” The difficulties in the labor market continue to fuel an accommodative monetary policy.

Still, the overall data hinted at a positive trend in the job market’s recovery path.

At the same time, the Bureau of Economic analysis revealed that the gross domestic product grew 6.4% in the quarter on an annualized basis, below the 6.8% estimated rate. The acceleration was mainly due to the $1.9 trillion stimulus package approved by Congress earlier this year.

Following the news, Wall Street posted gains, with USA500 and USA30 jumping 0.67% and 0.44% respectively. The Dollar Index gained 0.07%.


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.