Worse-than-expected US Unemployment Claims

By: Miguel A. Rodriguez

16:56, 08 October 2020

The economic recovery seems to be stalling

As weeks pass by, the US economy doesn’t show signs of recovery from the #pandemic. The latest report from the US Department of Labor is proof of this. 

The first-time #unemployment claims number was worse than what the market expected. In the past week, 840,000 people filed for unemployment benefits for the first time. Economists were forecasting 820,000. Despite the numbers showing a decrease in job growth, this is the lowest reading since mid-March. 

These figures come almost a week after the Department announced that the non-farm payrolls rose by 661,000 for the month of September. 

Despite the results, the American benchmarks are to open higher, USA30 being higher almost 2%. USA500 is in positive territory at 1.74%.

Read here the latest NFP report!

Sources: forexfactory.com, cnbc.com

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