The number of unemployment claims continues to drop

February 04, 2021
The number of unemployment claims continues to drop

Better-than-expected number of unemployment claims

This week, the US Department of Labor revealed that the country’s economy could be on track for a recovery following the weekly unemployment claims.

In the past week, 779,000 people filed for unemployment due to the latest restriction imposed to curb the spread of the new COVID-19 strain. The numbers came in lower than what the market forecasted – 828,000.

Markets barely reacted to the news, the US indices moving between -0.1% and 0.3%.

Now, all eyes are on tomorrow non-farm payrolls.

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Sources: cnbc.com, forexfactory.com

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