U.S. government debt prices were higher Friday morning after the latest data showed that 30 million Americans have filed for unemployment in the last six weeks.
First-time filings for unemployment insurance hit 3.84 million last week, again exceeding market expectations bringing the tally since the. The jobless toll now accounts for 18.4% of the country's working age population.
U.S. consumer spending dropped 7.5% in March compared with a year earlier, while personal incomes fell 2% over the month, data showed on Thursday. Half of all U.S. states are now forging ahead with their own strategies for easing restrictions on restaurants, retail and other businesses shuttered by the crisis, despite warnings from health experts over a lack of wide-scale virus testing and other safeguards.
Economic data will also be in focus on Friday, with April's Markit and ISM manufacturing PMI readings set for release at 9:45 a.m. ET and 10 a.m. ET, respectively.Related Tags
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