The US number of continued claims increased sharply

Last week, 2.438 million Americans applied for unemployment benefits for the first time, which is in line with expectations and is at least nine weeks in advance. However, the number of repeated requests showed a sharp jump of 2.525 million to over 25M. For comparison, a week earlier, this increase was only 171K. The continuing sharp increase in the number of unemployed makes us look with caution in the future.

Despite the first steps of quarantine easing, US companies continue to reduce staff, and finding a new job is not so easy these days. The proportion of people who receive benefits in the United States is 17.2% in contrast with 1.2% a year earlier, which was three times lower than the official unemployment rate (3.6%).

The FxPro Analyst Team