BREAKING: US Jobless Claims Fall Below 1 Million

The number of Americans filling for unemployment benefits was  881 thousand in the week ended August 29th, compared to 1.006 million in the previous week, bringing total claims above 58.0 million since March 21st when the coronavirus pandemic started in the US. Today’s reading came in below market expectations of 0.950 million and showed the lowest level since the coronavirus crisis began. However today’s reading remains far above 665,000 filed at the peak of the Great Recession in March 2009.

 

Continuing claims, which lags initial jobless claims data by one week, reach  13.254 million, while analysts expected a drop to 14 million.

 

Continuing jobless claims continued to drop while initial claims dropped compared to last week's figures. Source: Macrobond, XTB

 

EURUSD  price rose after today's data release and is heading towards 1.1850  resistance level. Source: xStation5 .

 

This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.