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Worse-than-expected US Unemployment Claims

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Miguel A. Rodriguez
Miguel A. Rodriguez
14 September 2020
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. 

After the report, USA30 fell 0.4%, while USA500 traded 0.5% lower. TECH100 lost 0.5%.

Read previous unemployment claims reports on CAPEX.com!

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.