from King World News
What is moving markets today has to do with Lagarde and the ECB, inflation, unemployment, plus a look at gold, silver and the US dollar.
September 10 (King World News) – Peter Boockvar: Initial jobless claims totaled 884k, 34k more than expected but unchanged with last week which was revised up by 3k. Delayed by a week, continuing claims were 13.39 million, about 485k above the estimate and up from 13.29 million in the week prior. Those receiving pandemic unemployment assistance rose for the 4th straight week and by 90k this past one to 839k. As of August 21st there were 14.59 million continuing to receive these payments. Thus, a total of 28 million people are receiving benefits of some sort. Combine this with the civilian labor force at 161 million and you have an unemployment rate closer to 17%.