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Get the latest economic news from ForexMart, including updates on the financial market, central banks' policy announcements, financial indicators, and other relevant news which can have an impact on the industry.

Disclaimer:  Information provided here to retail and professional clients does not contain and should not be construed as containing investment advice or an investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance.

Unemployment in the US in April jumped to 14.7% and renewed a maximum since 1940

May, 08 2020
watermark Economic news

According to the US Department of Labor, unemployment in April updated the record since 1940 and jumped to 14.7% from March 4.4%, while the number of jobs in non-agricultural sectors of the economy fell by a record 20.5 million.


Analysts had forecast unemployment at 16% and a decrease in jobs by 22 million.


The National Bureau of Economic Research (NBER) has published monthly statistics since 1929, and according to it, unemployment in the United States was in May-July 1940 at 14-15%, and in May 1933 it was 25.6%.


The Ministry also reported that the hourly wage in the country in April grew by 7.9% in annual terms and amounted to $ 30.01. In monthly terms, it increased by $ 1.34.


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Risk Warning:
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.