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Unemployment Claims dropped by more than expected

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Miguel A. Rodriguez
Miguel A. Rodriguez
03 March 2022
The figures reached the lowest level since the beginning of 2022

The latest unemployment claims figures came in at 215,000, marking the lowest reading since the beginning of the year, as COVID-19 cases declined, and restrictions eased. The number was lower than what analysts were looking for – 223,000. The drop in unemployment claims is in line with a strong labor market recovering from the Omicron variant, which forced businesses to close. This trend is expected to continue as activity reignites.

However, companies are still looking for workers to fill nearly 11 million job openings. Currently, there are approx. 4.4 million more employment openings than there are unemployed workers looking for jobs.

Now, traders are looking forward to tomorrow’s non-farm payrolls report. The market is looking for 407,000 jobs to have been created last month.

Sources: Bloomberg.com, cnbc.com, forexfactory.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.