Job market showed improvement in the past week

Job market showed improvement in the past week

Last week the US job market got one step closer to its pre-pandemic levels, based on recent data from the Department of Labor

For the week that ended on May 22, 406,000 people filed for unemployment benefits for the first time. The figures came in ahead of the 427,000 expected, marking the closest level to the previous trend since the pandemic began, and a downtrend from last week’s 444,000.

Claims remained elevated through the pandemic, recently shifting lower amid the economic reopening set in motion by accelerated vaccine rollouts and the sharp decline in COVID-19 cases. According to the Centres for Disease Control and Prevention data, half Americans have received at least one vaccine dose, while states have been shutting down benefits programs as businesses reopened.

Following the news, at the open of the American trading session, USA30 rose 0.32%, while USA500 went up 0.14%. TECH100 added 0.03%.

Sources: cnbc.com, forexfactory.com

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