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Unemployment Claims hit a five-month high

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Miguel A. Rodriguez
Miguel A. Rodriguez
20 January 2021
Initial jobless claims reached the highest level since August

New week, new figures from the US Department of Labor.

According to the latest unemployment report, 965,000 people lost their jobs in the past week. The figures came in significantly higher than the 785,000 forecasted. The number shows the slowdown in hiring due to the pandemic restrictions imposed after a new strain was discovered. This is the highest reading reported since August 2020.

Despite the reading, markets slightly reacted to the news, focusing on the more than $1 trillion stimulus package rumored to be released once Joe Biden is sworn in.

According to CNBC, USA500, USA30, and TECH100 movements indicate an opening gain.

Sources: forexfactory.com, cnbc.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.