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Unemployment Claims fell to a fresh pandemic-era low

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Miguel A. Rodriguez
Miguel A. Rodriguez
13 May 2021
Businesses started to fill positions left available by restrictions

The market was expecting the number of unemployment claims to hold below 500,000 for a second consecutive week, with new filing inching back to pre-pandemic level as more and more Americans are getting vaccinated and are able to return to work.

According to the latest report from the US Department of Labor, markets’ expectations were met. In the past week, 473,000 people filed for the first time for unemployment, the figures coming slightly ahead of the 487,000 consensus.

States such as South Carolina and Montana have recently revealed their plan to pull out of federal unemployment benefit programs to speed up the hiring processes.

Following the news, USA30 and USA500 added 0.02% and 0.30% respectively. The Dollar Index is trading 0.02% higher at 90.710.

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.