Unemployment Rate reaches 8.1%

The NFP report drove the US Unemployment numbers to a 8.1% rate, this is the highest rate since 1983. The past three months have seen a loss of almost 3 million jobs as the overall economy deteriorates. There are analysts which refute that the rate will reach double digits this year, but as more layoffs continue to be announced and unemployment claims rise, it is very difficult to trust on their assessment.

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza