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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.

The number of applications for unemployment benefits in the US fell more than forecast

June, 11 2020
watermark Economic news

According to the US Department of Labor, the number of applications for unemployment benefits continued to decline last week, although it may take a lot of time to fully recover the labor market after a pandemic.


The number of Americans applying for unemployment benefits for the first time in the week of June 6 was 1.542 million. Analysts surveyed by Bloomberg, on average, predicted a decrease in the number of applications to 1.55 million.


The number of applications is gradually decreasing after reaching a historical maximum of 6.867 million in the week ended March 28. The number of people continuing to receive unemployment benefits fell less than expected to 20.929, compared with 21.268 million a week earlier.


In May, the number of jobs in the US economy increased by 2.509 million. Unemployment fell to 13.3% from 14.7% in April.


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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.