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US Unemployment Claims fell to a three-week low

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Miguel A. Rodriguez
Miguel A. Rodriguez
23 December 2020
The unemployment claims are closer to the 800,000 mark

For the past nine months, the US Department of Labor publishes figures that show the pandemic’s effect on the labor market.

Jobless claims figures came in at 803,000 for the week ended on December 19. Even though the number is still high, it is lower than the previous one of 892,000. The market was expecting 882,000 people to have filled for unemployment benefits in the past week.

The news came when there is a showdown between the US lawmakers and President Donald Trump. After many weeks of discussions, both the Senate and the House of Representatives passed a $900 billion relief package, which includes $600 stimulus checks, $300/ week federal unemployment benefits, and $320 billion in business relief. But Donald Trump called the latest stimulus aid a “disgrace” and threatened not to sign the bill. Also, he urged congressional leaders to come up with significant edits to the package.

Besides the high numbers from the Department of Labor, according to Johns Hopkins University data, in the US, on average, there are at least 215,400 new cases and roughly 2,600 deaths daily.

The country’s benchmarks – USA30, USA500, and TECH100 – are said to open mixedly.

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.