Jobless Claims See Unexpected Drop Amid Jump in COVID Cases

Businesswoman smiling at the camera during a presentation

American jobless claims declined unexpectedly in the past week, indicating strong labor market conditions even as COVID-19 cases continue to rise.

Source: US Labor Department

DXY is up 0.17%, while Gold is down 0.12%.

Seasonally adjusted initial claims for the week ending December 25 fell by 8,000 to 198,000 from the previous week’s revised level of 206,000. This is lower than economists’ expectations of 206,000 based on a Bloomberg survey.

The advance insured unemployment rate declined by 0.1 percentage points to 1.3%. Insured unemployment for the week declined by 140,000 to 1.716 million, marking the lowest since March 7, 2020’s 1.715 million.

The largest peaks in initial claims were recorded in Oklahoma, Michigan, Washington, Alabama, and Arkansas. The biggest declines were in Missouri, Pennsylvania, Kentucky, Georgia, and Illinois.

The four-week initial claims declined by 7,250 to 199,250 from the previous week’s revised level of 206,500.


Foreximba Review: An Affordable But Risky Forex Robot

Previous article

Arnaud Legoux Moving Average Trading Strategy

Next article

You may also like


Leave a reply

Your email address will not be published.

More in News