Unemployment at 5 week high .. Petrol leader today important announcement ..!
The U.S. economy is growing faster than any other country in the world, largely due to the corona virus vaccine being given to all its people and the large-scale economic and trade promotion programs being implemented.
But the number of delta virus infections in the United States is currently increasing day by day, affecting the country’s trade, economy and employment. The US stock market has been volatile for the past week.
In this situation, the release of unemployment data in the United States has shocked the US market.
Unemployed
In the United States, the government subsidizes the unemployed every month. This subsidy has greatly helped many people who are struggling with basic services without employment during the Corona era. At the same time, it is important to note that the U.S. government can accurately calculate the number of unemployed.
American market
Unemployment remained under control until last week, despite the spread of the Delta virus in the United States, the world’s largest economy. But the virus infection has increased over the past year, as has the number of unemployed.
3,53,000 people are out of work
As a result, the number of unemployed has risen to 3,53,000 in the past week. This is up from 344,000 in the previous week, according to the US Labor Organization. The number has been steadily declining from 3,66,500 four weeks ago to a five-week high.
Delta type virus infection
Restrictions that were reduced in the wake of the Delta virus outbreak in the United States have all been re-enacted. As a result, trade has been hit hard in the past week, and the employment sector has been hit hardest by the chain.
South Korea raises interest rates
In this context, the Bank of Korea, the central bank of South Korea, raised its benchmark interest rate by 0.25 percentage points in a statement yesterday.
The benchmark interest rate has been hiked to 0.75 per cent from 0.50 per cent by the new hike. it is to be noted that the South Korea is the first major economy country to raise interest rates.
Federal Reserve of the United States
Following this, Jerome Powell, the chairman of the Federal Reserve, the central bank of the United States, is expected to release important information in his speech today. As a result, the value of the dollar and bond market investment have all plummeted.
Federal Reserve Chairman Jerome Powell
In Germany, too, the number of corona infections is expected to rise in September, with consumer demand expected to fall and inflation to rise. In this situation, US Federal Reserve Chairman Jerome Powell’s announcement of small policy or interest rate changes could have a major impact.