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Unemployment Claims reached a new record low

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Miguel A. Rodriguez
Miguel A. Rodriguez
03 June 2021
The number of unemployment claims fell below 400,000 for the first time since the early stages of the pandemic

According to the latest report from the US Department of Labor, 385,000 people filed for unemployment for the first time last week, marking a decline from the previous week’s 405,000. As the rate of vaccinations has gathered pace and businesses have been allowed to reopen, the labour market situation has improved. The last time unemployment claims were lower was in 2020, where the figures came in at 256,000 for the week of March 14.

Now all eyes will be on tomorrow’s non-farm payrolls. Analysts expect 645,000 new jobs to have been added in the past month.

At the moment of writing, the Dollar Index is up 0.40% at 90.275.

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.