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Unemployment Claims reached a new record low

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Miguel A. Rodriguez
Miguel A. Rodriguez
03 June 2021
The number of unemployment claims fell below 400,000 for the first time since the early stages of the pandemic

According to the latest report from the US Department of Labor, 385,000 people filed for unemployment for the first time last week, marking a decline from the previous week’s 405,000. As the rate of vaccinations has gathered pace and businesses have been allowed to reopen, the labour market situation has improved. The last time unemployment claims were lower was in 2020, where the figures came in at 256,000 for the week of March 14.

Now all eyes will be on tomorrow’s non-farm payrolls. Analysts expect 645,000 new jobs to have been added in the past month.

At the moment of writing, the Dollar Index is up 0.40% at 90.275.

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.