The United States jobless claims rose unexpectedly for the week ended 18 July 2020, rising for the first time in nearly four months.
- The U.S. weekly jobless claims rose to 1.416 million from 109,000 in the period prior.
- As per the data from the United States Labor Department, nearly 32 million people were collecting unemployment checks in early July.
- Furthermore, the labor market weakness is putting pressure on the Congress to extend the USD 600 weekly jobless supplement ahead of 31 July 2020.
