The number of unemployment claims reached a new pandemic-era low, according to the latest report from the US Department of Labour
For the week ended May 1, 498,000 people filed for the first
time for unemployment. The figures came in significantly lower than the 540,000
expected. The improvement gathered speed in the past few weeks as the country
is vaccinating more than 2 million people daily.
Despite the significant improvement, analysts believe that
the labour market still must make significant steps forward to fully recover
from the pandemic’s effects.
After today’s report, the investors focus switches to
tomorrow’s non-farm payrolls.
Sources: forexfactory.com, investing.com
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