Notifications Bell

Unemployment Claims dropped by more than expected

Unemployment Claims dropped by more than expected

The figures reached the lowest level since the beginning of 2022

The latest unemployment claims figures came in at 215,000, marking the lowest reading since the beginning of the year, as COVID-19 cases declined, and restrictions eased. The number was lower than what analysts were looking for – 223,000. The drop in unemployment claims is in line with a strong labor market recovering from the Omicron variant, which forced businesses to close. This trend is expected to continue as activity reignites.

However, companies are still looking for workers to fill nearly 11 million job openings. Currently, there are approx. 4.4 million more employment openings than there are unemployed workers looking for jobs.

Now, traders are looking forward to tomorrow’s non-farm payrolls report. The market is looking for 407,000 jobs to have been created last month.

Sources: Bloomberg.com, cnbc.com, forexfactory.com

This information prepared by za.capex.com is not an offer or a solicitation for the purpose of purchase or sale of any financial products referred to herein or to enter into any legal relations, nor an advice or a recommendation with respect to such financial products.

This information is prepared for general circulation. It does not regard to the specific investment objectives, financial situation or the particular needs of any recipient.

You should independently evaluate each financial product and consider the suitability of such a financial product, by taking into account your specific investment objectives, financial situation or particular needs, and by consulting an independent financial adviser as needed, before dealing in any financial products mentioned in this document.

This information may not be published, circulated, reproduced or distributed in whole or in part to any other person without the Company’s prior written consent. Past performance is not always indicative of likely or future performance. Any views or opinions presented are solely those of the author and do not necessarily represent those of za.capex.com

JME Financial Services (Pty) Ltd trading as ZA.CAPEX.COM acts as intermediary between the investor and Magnasale Trading Ltd, the counterparty to the contract for difference purchased by the Investor via ZA.CAPEX.COM, authorised & regulated by the Cyprus Securities and Exchange Commission with license number 264/15. Magnasale Trading Ltd is the principal to the CFD purchased by investors.