Higher-than-expected US Unemployment Claims

Higher-than-expected US Unemployment Claims

Weekly jobless claims fell short of the mark

This week’s report from the US Department of Labor showed gloomy figures. The weekly jobless claims numbers came in worse-than-expected, still showing pandemic-inflicted damage.

The Department reported 884,000 filings compared to the 838,000 forecasted.

At a state level, Florida reported the most significant decrease – 9,049, while California had the biggest increase in the number of filings – 17,953.

From the economists' perspective, a possible autumn resurgence in the number of COVID-19 cases could cause slowness or even a reversal of the progress shown in the latest NFP report.

Following the report, USA30 gained 0.7%, while USA500 added 0.7%. TECH100 went up 0.9%.

Read the latest job reports on CAPEX.com!

Sources: forexfactoy.com, cnbc.com

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