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US Unemployment Claims jumped again

Miguel A. Rodriguez
Miguel A. Rodriguez
15 October 2020
The labor market continues to struggle

The US economic recovery seems to continue to stall, according to the latest figures from the US Department of Labor.

Per the report, in the past week, the number of Americans who filed for unemployment benefits for the first time increased to 898,000. The figures came in higher than both last week and what the market expected: 845,000 and 810,000 respectively.

This week’s total is the highest number since August 22.

The grim figures came shortly after the US Treasury Secretary Steven Mnuchin destroyed investor hopes for a new stimulus package before the presidential elections.

Following the news, USA30 and USA500 lost 1.1% each in pre-market trading. TECH100 dropped 1.5%.

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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.