US Unemployment Claims Cool Off A Bit, But Remain Really High - Forex News by FX Leaders
It's hard to find a job when life has been shut down

US Unemployment Claims Cool Off A Bit, But Remain Really High

Posted Thursday, April 23, 2020 by
Skerdian Meta • 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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