US Initial Jobless Claims: Devastating report – RBC
|New unemployment insurance claims skyrocketed to 6.65 million last week while current unemployment rate nearing 10%, 2009's high, Josh Nye from the Royal Bank of Canada reports.
Key quotes
“Jobless claims came in well above expectations with another 6.65 million Americans filing for unemployment insurance last week, building on what was already a record 3.31 million claims in the prior week.”
“Those 10 million people represent about 6% of the US labour force, suggesting the current unemployment rate is near the last recession's high water mark of 10%. And layoffs are likely to continue in the coming weeks.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.