US Unemployment Claims Cool Off A Bit, But Remain Really High
US unemployment claims fell for the second week last week, but they remain really high in the millions
Skerdian Meta•Thursday, April 23, 2020•1 min read
The unemployment claims have been surging in the US in the last several week. Jobless claims and the unemployment rate have been surging anywhere for that matter, as the world remains closed due to coronavirus. Earlier today we saw the manufacturing and especially services reports form Europe, showing that these sectors are heading for the bottom.
The unemployment claims form the US jumped to above 5 million in March and above 6 million earlier this month, but they are starting to cool off, falling to 4 million range. Although, they remain quite high. The other thing is, the number of Americans eligible for unemployment benefits is declining, as more and more people become unemployed. Below is the unemployment report form the US:
- Weekly unemployment claims 4,427K vs 4,500K expected
- Prior week was 5,245K
- Estimates ranged from 3.0m to 5.8m
- Continuing claims 15,976K vs 16,738K expected
- Prior continuing claims were 11,976K
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Skerdian Meta
Lead Analyst
Skerdian Meta Lead Analyst.
Skerdian is a professional Forex trader and a market analyst. He has been actively engaged in market analysis for the past 11 years. Before becoming our head analyst, Skerdian served as a trader and market analyst in Saxo Bank's local branch, Aksioner. Skerdian specialized in experimenting with developing models and hands-on trading. Skerdian has a masters degree in finance and investment.
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