The number of jobless claims in the US recorded 406,000 at the beginning of the week of May 22, falling for five consecutive weeks, continuing to hit the lowest value since the week of March 14, 2020.

Greg, an analyst at the financial website Forexlive: It is expected that by the time COVID-19 unemployment assistance expires in September, the number of initial jobless claims will drop drastically because people who currently choose to receive government aid instead of going to work will return to work.