Release Explanation: Measures the number of jobs created, or the percentage of employed/unemployed in the labor market. It is very important that economic forecasts are based on the labor market. “Economic strength builds from the willingness/confidence of firms to hire, without a strong labor market growth is hard to achieve,” TheLFB-Forex.com Trade Team said
TheLFB-Forex.com Trade Desk Thoughts: The number of people seeking unemployment increased again in April to the highest value in the last 14 years. The report shows there were 1.51 million persons on the claimant count in March, and up by 57,100 from one month earlier. The previous released number, for the month of March, was revised from 73.7K to 65.5K.
Forex Technical Reaction: The pound lost 50 pips during the release, bouncing from TheLFB R2 (1.5320). During today’s trading session, the pound rose 200 pips.