US Unemployment Claims grew unexpectedly

September 24, 2020
US Unemployment Claims grew unexpectedly

The number of unemployment claims keeps showing up higher than expected

Fresh data from the Department of Labor pointed towards a negative result again, with numbers for the weekly #unemployment claims higher than what was forecasted.

870,000 people filed for unemployment benefits last week, due to the #pandemic. Markets were hoping for 845,000 new filings. New York and Georgia took over the most significant increase at a state level, coming up with 9,000 and 6,000 claims.

Disappointing data showed up exactly when the US lawmakers are trying to pave the way for another stimulus package, just after Jerome Powell - the Federal Reserve's Chairman, asked for more financial support.

Following the data release, USA30 fell by 0.7%.

Sources: forexfactory.com, cnbc.com

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