Another week, another report from the US Department of Labor.
The latest data published today showed more than one million people who filed for unemployment benefits last week. The 1.186 million came below 1.410 million expected. It is the lowest level of claims recorded since the pandemic started ravaging the US.
Today’s report marked the 20th consecutive week when claims exceeded 1 million. At the moment, roughly 56 million people are unemployed due to the pandemic.
The report came just one day before the monthly non-farm payrolls report. Analysts are expecting 1.264 million new jobs to have been created in July.
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Sources: cnbc.com, forexfactory.com