Weekly unemployment claims back at over 1 million
The latest data from the Department of Labor shattered the little hope that people had in an economic recovery.
The number of people applying for unemployment benefits last week was higher than expected. For the week ending August 15, 1.106 million jobless claims have been reported. Analysts were looking for 930,000.
The reported spike in claims came as Congress is trying to reach a consensus regarding the new stimulus package. Currently, it’s been one month without the $600/week benefit for people that lost their jobs on behalf of the pandemic.
Also, experts believe this spike to be either an increase in layoffs or a pause in the number of people going back to work after the second wave of infections.
Read previous unemployment claims reports on CAPEX.com!
Sources: forexfactory.com, cnbc.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.