The weekly unemployment claims last week saw only a slight decline from the high level recorded last week following the outbreak of the Covid-19 epidemic that continues to grip the United States (U.S.) economy.
The Department of Labor has just released a weekly report on unemployment claims. The following are the details reported in the report:
Initial unemployment claims, the week ending January 16 recorded a total of 900,000 unemployment claims compared to an estimated 935,000.
At the same time, the total unemployment claims for the week ended January 9 was 5.054 million compared to an estimated 5.3 million.
Early unemployment claims continued to record large numbers at the level of 900,000 for 2 consecutive weeks. The contagious Covid-19 epidemic has hit the labor market.
The market expects the labor market to improve with the additional fiscal stimulus passed by Congress last month could reduce unemployment in America.
Also informed that in December, the U.S. economy. the number of Americans losing their jobs has recorded an increase for the first time since April. This is largely due to the weak employment of the services sector.
The US dollar index, which measures the greenback against major currencies, continued to decline by 0.40% to the 90,097 exchange rate following the release of this report.
