Tag: unemployment

Housing Sector Fueled by Low Rates

While the retail and manufacturing sectors continue to improve from their spring lows, neither have received the benefits of record low interest rates as much as the housing sector. In the upcoming light data week, August home sales data will take centre stage. After double digit gains in July, it’s possible that the rates for […]

US July Payrolls Up 1.76 Mln, Unemployment 10.2%

The July employment report reflected continued improvement in the economy, but the rate at which the US is digging out the hole it fell into in March and April clearly slowed. That recovery is likely to be hindered further by the rebound in COVID-19 cases across several states, which forced some states and businesses back […]

Will Employment Report Provide Early Fireworks?

Before the Fourth of July holiday, there are plenty of opportunities for the June US data to create further buzz after a partial recovery in May. The employment report released Thursday – early because of the pending holiday – is undoubtedly the highlight of the week ahead of Friday’s observed holiday. May’s 2.5 million payrolls […]

US May Payrolls Rise, Unemployment Rate 13.3%

The May employment report showed further impact of the COVID-19 shutdown, but there was no question that the surprisingly positive data point to a turning point after weak March and April readings. There will not be a significant improvement in the employment situation until more businesses reopen, but there should be additional positive signs in […]

US April Payrolls Plunge 20.5mln, Unemployment at 14.7%

The April employment report Friday represented the full effect of the COVID-19 shutdown, with payrolls posting the largest decline on record and the unemployment rate rising to the highest level in the series back to 1948. While employment conditions will not drastically improve until the crisis is over, it is possible that the federal government’s […]

Data Flash: US Initial Claims Spike, Backlogs to Maintain Flow

Initial Claims Double from Previous Week to Record 6.648 Mln Continuing layoffs and administrative backlogs will lift initial claims to new record highs for the next several weeks before the flow of new filings finally slow. This week, the level of new claims was double last week’s, adding to the overall number receiving benefits. The […]

Fed’s Rosengren: Unemployment to Rise “Dramatically”

The Federal Reserve is working to limit economic fallout from the pandemic and promote recovery, but unemployment is surging, and fiscal policy is “crucial,” Eric Rosengren, president of the Federal Reserve Bank of Boston, said Wednesday. “The Federal Reserve is working to limit the financial and economic distress – to take actions that help avoid […]

Five on Friday: What Happened in Markets This Week

Lizzy Birmingham provides a brief roundup of the major FX moves this week, and the drivers behind each. 1) SNB Upholds Ultra-Loose Policy The Swiss franc was up 0.2% to 1.12127 per euro on Thursday following Swiss National Bank (SNB) president, Thomas Jordan’s, announcement to maintain loose monetary policy. In an interview with Bloomberg, Jordan […]