Jobless Caims Rise To Highest Level Since 1992

Daily Forex Fundamentals | Written by DailyFX | Nov 20 08 14:00 GMT |

Initial jobless claims in the U.S. unexpectedly rose last week to 542,000 - the highest level since 1992. The total benefit rolls rose above 4 million for the first time since 1982. The country has already seen job losses of 1.2 million and more is expected as several companies like Citigroup have announced significant cuts. Additionally, the troubles of the big three auto makers will be pressure on the labor markets as suppliers look to cut costs, as the industry is expected to be restructured and production reduced. The dollar would initially rally against the Euro on risk aversion flows but retraced shortly thereafter. DailyFX Disclaimer Investment in the currency exchange is highly speculative and should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. This website is an information site only. Accordingly we make no warranties or guarantees in respect of the content. The publications herein do not take into account the investment objectives, financial situation or particular needs of any particular person. Investors should obtain individual financial advice based on their own particular circumstances before making an investment decision on the basis of the recommendations in this website. While we try to ensure that all of the information provided on this website is kept up-to-date and accurate we accept no responsibility for any use made of the information provided. All intellectual property rights are the property of Daily FX. Daily FX and its affiliates, will not be held responsible for the reliability or accuracy of the information available on this site. The content herein is provided in good faith and believed to be accurate, however, there are no explicit or implicit warranties of accuracy or timeliness made by Daily FX or its affiliates. The reader agrees not to hold Daily FX or any of its affiliates liable for decisions that are based on information from this website. Daily FX highly recommends that before making a decision, the reader collects several opinions related to the decision and verifies facts from at least several independent sources.