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US unemployment claims climb higher

Friday, September 11, 2020

US weekly unemployment claims, while coming in below the all-important 1 million mark for the second week running, did come in slightly higher than forecasts at 884k. Continuing claims disappointingly edged higher by 131k to now 13.385 million Americans out of work. The long-term effects of Covid-19 are clearly manifesting into these depressingly slow to recover jobs figures. This will further push into the debates in the Senate for additional stimulus with the Democrats demanding more than is currently on the table, but markets are likely to be unfazed by these numbers in the short term.

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