US Unemployment Claims dropped to lowest levels in a year

March 26, 2021

The labor market starts healing from the pandemic’s effects

The US labor market's healing process seems to have started picking up last week, according to the latest report from the Labor Department.

In the past week, the number of unemployment claims fell to 684K from 781K reported a week before. Also, it came ahead of the 727K market consensus, dropping to a one-year low.

In the light of the events, President Biden stated the following: "There are still too many Americans out of work, too many families are hurting, and I still have a lot of work to do […] But I can say to you, the American people, help is here and hope is on the way."

Following the news, USA30 closed 0.62% higher, while USA500 went up 0.52%. The Dollar Index reached a multi-month high at 92.697.

Sources: investing.com, forexfactory.com

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