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US: Job fears mount
US initial jobless claims jumped to 965k last week – an awful outcome – 176k above expected while continuing claims came in 271k above expectations at 5.27mn. To put this in context the worst reading during the Global Financial Crisis was 665k, so the ongoing stress in the jobs market is clear for all to see. After a fall in employment in December we need to be braced for another decline in jobs in January. There will be no real improvement in the jobs market until Covid containment measures are relaxed and businesses have the confidence to hire. As of January 13th, 10.3mn vaccination doses have been ... (full story)