U.S. Unemployment claims take a hike from 11,000 to 276,000

U.S. Unemployment claims take a hike from 11,000 to 276,000

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According to the news from Washington, number of U.S citizen applied for the unemployment benefits hiked from 11,000 to 276000 and rose to the maximum level in two months. Meanwhile job cuts stayed down as company’s added job during the period.

Analyst have forecast of initial jobless claims on an adjusted scale of 268,000 in a week time-span i.e. 20th – 26th March 2016. For approx. 56 weeks, the initial claims had been under 300,000 target. No wonder, the lower levels of claim project an additional hiring over the past several years. Approx. 2.17 million individuals collected weekly unemployment benefits, known as continuing claims, in a week – ending on 19 March. That was down 7,000 from the prior week (Source: MarketWatch).

As per Labor Department’s estimates, an average new claims hiked by 3,500. The number of people receiving unemployment benefits has fallen 6.3 percent over the past year to 2.17 million. Not to mention, the U.S. has been adding an average of more than 200,000 jobs/4 weeks meanwhile economists expect a similar gain in March –  Friday’s jobs report might show that employers hired roughly 200,000 workers in February as the unemployment rate held at an eight-year low of 4.9%.

ADP National Employment December Analysis revealed Energy companies, knocked down by bearish crude costs that eliminated overall employment on annual scale December 2015.  The manufacturing firms are looking into putting every effort to ensure expensive sales globally, due to uncertain foreign markets and Dollar strength.

OCTOBER 2015: There were 307,000 new employments from 298,000.

NOVEMBER 2015: There were 252,000 new employments in instead of 211,000.

 (U.S. added an average of 284,000 jobs in initial three months last year)

UPDATE: The monthly employment report is set to be announced tomorrow morning by the government officials.

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I am an independent trader currency and commodity with about eight years of experience. I love the financial world because it is like one big puzzle and I hope we help each other out to solve the puzzle to help us realize our dreams. I received my BBA in Accounting (With Honors) - from The University of Texas - San Antonio. Achievements: Beta Alpha Psi National Accounting Honors Fraternity member, Leadership Challenge Participant, Dean's List. I have passed the Series 63, 22, Texas Real Estate exam, and the DRI Business Continuity exam.

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