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Higher-than-expected unemployment claims and lower-than-expected housing start figures

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Miguel A. Rodriguez
Miguel A. Rodriguez
17 settembre 2020
The US economy continues to be in a slump

The Department of Labor latest report showed for the second consecutive week figures that came above the estimate.

The total filings came in at 860,000 for the week ended September 12. The consensus was 825,000. However, they are lower than last week's 893,000. 

On the other hand, the number of continuing claims fell to 12.63 million, beating the 13 million expected, marking the lowest level since March. 

Alongside the Department of Labor's disappointing data came negative news from the Census Bureau regarding the numbers in housing. Multifamily housing constructions dropped 14.2%, while those for single-family surged 6%.

The markets reacted accordingly over the fact that the recovery of the labor market stalls. USA30 fell 0.9%, while USA500 lost 1.4%. TECH100 dropped 2.1%.  

Read all about last week's numbers here!

Sources: forexfactory.com, cnbc.com

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Miguel A. Rodriguez
Miguel A. Rodriguez
financial_writer

Miguel ha lavorato per importanti istituzioni finanziarie, come Banco Santander e Banco Central-Hispano. È autore di libri sul trading di valuta con diverse pubblicazioni alle spalle.