A labor market recovery questioned amid the high number of jobless claims
According to the latest report from the US Department of Labor, the number of Americans who filed for unemployment benefits for the first time in the past came in higher-than-expected.
In the past week, 861,000 people became jobless, topping the 775,000 expected. The high figures are raising the possibility of a second consecutive month of a tepid job growth regardless of the decline in COVID-19 infections. The highest numbers came from California, Illinois, and Ohio.
People are now waiting for the $1.9 trillion stimulus package long-touted by the current president, Joe Biden. At the end of January, 18.3 million people were getting unemployment checks, but the government-funded benefits will expire mid-March.
Read more about how the markets reacted here!
Sources: forexfactory.com, reuters.com
Users/readers should not rely solely on the information presented herewith and should do their own research/analysis by also reading the actual underlying research. The content herewith is generic and does not take into consideration individual personal circumstances, investment experience or current financial situation.
Therefore, Key Way Investments Ltd shall not accept any responsibility for any losses of traders due to the use and the content of the information presented herein. Past performance is not a reliable indicator of future results.