The number of unemployment claims rose last week, according to the latest report from the US Department of Labor.
First-time claims came in at 719K compared to what the markets were expecting – 678K. Despite the high number, the overall trend is downward as the US economy is in a middle of a recovery. Moreover, almost 3 million Americans have received the COVID-19 vaccine. Also, the Biden Administration continues to pour money to boost the country’s economy, as today it revealed a $2 trillion spending plan.
This report comes one day ahead of the government’s non-farm payrolls for March. The market expects 652K new jobs.
Sources: forexfactory.com, cnbc.com