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Unemployment Claims rose less than expected

Miguel A. Rodriguez
Miguel A. Rodriguez
08 March 2021
The number of initial jobless claims showed little progress

First-time claims for unemployment figures came in lower-than-forecasted.

According to the US Labor Department, last week, 745,000 filed for unemployment benefits. The market was looking for 758,000. Although the number was lower, the total was a slight uptick from the previous week’s 730,000.

Despite the progress made with the COVID-19 vaccination programs and the predominantly positive economic data, the number of filings increased in key states such as Texas, Ohio, and New York.

This report came after yesterday’s ADP, which showed that the private sector created 117,000 jobs in the past month, below the 203,000 consensus.

The market quickly reacted, with USA30 and USA500 trading 0.19% and 0.04% higher, respectively.

Now, all eyes are on tomorrow’s non-farm payrolls.

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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.