After last week the US Department of Labor was shocked by the number of people who lost their jobs because of the pandemic, today we will find out that the pandemic continues to affect the labor market.
According to the report, 900,000 people lost their jobs in the past week, a figure lower than the 930,000 forecasted. They are also lower than those reported last week – 965,000 – the highest figure since August 2020.
Now that Joe Biden officially became the President of the United States, markets are holding their breath on his proposal of a $1.9 trillion stimulus package.
Following the report, USA500, USA30, and TECH100 reacted little to the news.
Sources: forexfactory.com, cnbc.com