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The US economy continues to be in a slump
The Department of Labor latest report showed for the second
consecutive week figures that came above the estimate.
The total filings came
in at 860,000 for the week ended September 12. The consensus was 825,000.
However, they are lower than last week's 893,000.
On the other hand, the
number of continuing claims fell to 12.63 million, beating the 13 million
expected, marking the lowest level since March.
Alongside the
Department of Labor's disappointing data came negative news from the Census
Bureau regarding the numbers in housing. Multifamily housing constructions
dropped 14.2%, while those for single-family surged 6%.
The markets reacted accordingly over the
fact that the recovery of the labor market stalls. USA30 fell 0.9%, while USA500 lost 1.4%. TECH100 dropped 2.1%.
Sources:
forexfactory.com, cnbc.com
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