Unemployment claims fall to 963,000 from last week

14.08.2020 - Evdokimov Roman
Unemployment claims fall to 963,000 from last week

The number of unemployment claims in the U.S. fell to 963,000 last week, making it the lowest in a week since March as virus-led lockdowns continue to slow the pace of the country’s economic recovery.

However, the figures showed signs of recovery in the labor market, even as worries that progress has been stalled due to the surge in new COVID-19 cases across several U.S. states in June and July.

The total number of claims decreased to 15.486 million, with the Labor Department adding another 489,000 Americans who applied for Pandemic Unemployment Assistance, a much lower number in contrast to the 656,000 it reported last week.

According to a statement by San Francisco Federal Bank President Mary Daly on Wednesday, the economic recovery would be slow and gradual, adding that she was not expecting a V-shaped recovery.

Daly added that any policies that encourages consumers to keep spending during the downturn would help with the recovery process.

Risk disclaimer "PROMETHEUS LTD – Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Republic of the Marshall Islands MH96960 is a financial services institution outside the European Union Area, which is subject to the supervision of the IFMRRC Certificate 0395 AA V0155 Trading in Forex/ CFDs and Other Derivatives is highly speculative and carries a high level of risk. It is possible to lose all your capital. 70% of trading deals can be unprofitable. These products may not be suitable for everyone and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. This Website may contain information in particular regarding financial services and products that could be regarded b a E.U. supervisory authority as an offer of financial services targeted in Europe. ESMA intervention measures do not apply to customers of PROMETHEUS LTD and it is your responsibility to choose a company which is most suitable for your trading needs. By clicking continue you confirm that you have read, understood and agree to the risk disclosures, terms of service, cash policies, privacy policies and this notice and that you are visiting this website on your own initiative, without any encouragement whatsoever from umarkets.ai or PROMETHEUS LTD." Cookies notification: We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we assume that you are happy with it. Read more. Continue

Help with deposit?