Spring is in the air and, despite a recent snowstorm that hit many parts of the U.S. over the last couple days, many Americans are perking up as warmer weather approaches.
Some Good Unemployment News…
Adding to the nation’s recent joviality is the fact that, as of Thursday, the U.S. Labor Department reported a new unemployment low of 547,000 citizens enrolled to collect, giving hope to the many Americans who remain unemployed that the end of this trying time may be near.
Needless to say, 547,000 – equaling roughly 6% — unemployed Americans is no small hurdle to jump, but when compared to the unemployment numbers we saw at the start of the pandemic — around 14.7% — it’s easy to see why many in Washington are looking at today’s numbers and smiling.
Unemployment in a Pandemic World
Unemployment numbers have been all over the place in the last few months… Exciting officials by reaching new reported lows only to be followed by a bump up in numbers. (Check out our previous article on the subject by CLICKING HERE.) Yesterday’s reporting’s help to give those paying close attention to the stats the much-needed reassurance they’ve been looking for in the sector.
On Wall Street, the markets have yet to show much of a reaction to the release of this positive unemployment news. Though still early, could this market hesitation be a sign that traders are a bit uneasy to trust these initial reporting’s?
Don’t Worry, Be Happy!
Despite this market hesitation, its’ safe to say most Americans look upon the release of this news as a positive. Proving that the recent downward trend in unemployment numbers could in fact be the proof we’ve been looking for that the nation could be returning to a sense of normalcy. And as many states relax their quarantine restrictions in the months ahead, allowing both major and small businesses to begin opening up and hiring once again, we could very well have more good economic news coming our way!
Learn More Here…
Interested in hearing more about today’s markets and how best to play them? If so, join DTI founder and head trader Tom Busby below as he dives into his take on recent market moves and how he suggests to move forward…
P.S. – Check out a new way to play the futures market by joining DTI founder Tom Busby and market pro Geof Smith as they lay out the details of their special “24 Hour Profits” class.