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US Unemployment Claims came in lower-than-expected

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Miguel A. Rodriguez
Miguel A. Rodriguez
01 October 2020
The economy is showing signs of recovery

The new quarter started off on the right foot, at least that’s the market’s feeling after the US Department of Labor published its weekly report of unemployment claims. 

For the week ended on September 25, the numbers came in at 837,000, lower than the 850,000 expected. Compared to last week’s figures, a 36,000 drop can be noticed. It marks the fifth consecutive week that claims came under 1 million, after passing the threshold for five months following the pandemic-induced economic shutdown. 

At a state level, the most significant drops were reported in Florida and Texas: 9,668 and 8,353, respectively. 

Now, all eyes are on tomorrow’s non-farm payrolls report. The market is looking for 800,000 jobs created in September. Also, the unemployment rate is expected to drop to 8.2%.

The benchmarks opened higher following the news. USA30 was trading 1.20% higher, while USA500 added 0.83%. TECH100 went up 0.74%.

Read more about the US unemployment claims on CAPEX.com!

Sources: forexfactory.com, cnbc.com, investing.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.