US initial jobless claims also rose by 135,000 to more than 1.106mio – economists polled by DOW had a forecast of 923,000. This is the first jobless claim since the end of the pay check protection program and its high number is clearly unexpected.
Most of the jobs lost are from the service sector and situation is forecasted to deteriorate even further leading up to winter. Can't help but wonder if this is the true picture of the US economy and how will this fare on the US economy in the long run? Most importantly, the USD?
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