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Lower-than-expected US Unemployment Claims

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Miguel A. Rodriguez
Miguel A. Rodriguez
12 November 2020
The number of unemployment claims continues to decrease

The US Labor Department released earlier today the unemployment claims figures.

In the past week, the unemployment claims declined to 709,000, lower than last week’s 757,000. Also, it failed to match the 730,000 consensus. Last week was the fourth consecutive one when the total declined from the previous period. However, the claims are still higher compared to the pre-pandemic record of 695,000 reported in 1982.

Georgia reported the most significant decrease at a state level – 14,127, while in California, the numbers rose by 5,162.

But the numbers are dropping progressively, showing an improvement of the US economy given the current situation. The country is setting records of daily COVID-19 infections, forcing various states to impose new restrictions.

The American benchmarks USA30, USA500, and TECH100, are said to open mixedly.

Sources: forexfactory.com, cnbc.com

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Miguel A. Rodriguez
Miguel A. Rodriguez
Financial Writer

Miguel worked for major financial institutions such as Banco Santander, and Banco Central-Hispano. He is a published author of currency trading books.