US Unemployment Claims declined in the past week

January 21, 2021
US Unemployment Claims declined in the past week

The Congress is focusing on ways to inject more money into the economy

The US Department of Labor’s latest report regarding the number of weekly unemployment claims showed a decline.

In the past week, 900,000 were left without a job due to the pandemic. The figures came in lower than the 930,000 expected.

The hospitality industry has been hit the hardest, like restaurants, hotels, clubs had to close their businesses. Only in January, 498,000 jobs were lost in this sector.

Despite the high number of claims, the markets didn’t seem to react to the news, as they were focused on President Joe Biden and Congress’ efforts to deliver a substantial fiscal stimulus to help the country’s battered economy.

Sources: investing.com, forexfactory.com

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