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Stocks and Crypto on the Rise Amidst Increasing Unemployment Rate

Dawn Wu

Summary: The US Department of Labor published its weekly news release today, April 23. The report reflects an additional 4.4 million unemployment claims by April 18. Meanwhile, the stock market and crypto are on the rise.

The US Department of Labor published its weekly news release today, April 23. The report reflects an additional 4.4 million unemployment claims by April 18. The number of the previous week was 5.2 million. The latest insured unemployment rate by April 11 has reached a record high of 11%.

Meanwhile, the stock market and crypto have been on the rise, as pointed out by a report on Decrypt. In a column of the LA Times, Pulitzer Prize winner, Michael Hiltzik believed that the market might see the increasing unemployment filings as a trigger for more aggressive stimulus by Congress and Federal Reserve.

By Dawn Wu

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