U6 Unemployment Rate For April 7.4% Vs 7.3% Prior
Portfolio Pulse from Benzinga Newsdesk
The U6 unemployment rate for April increased to 7.4% from 7.3% in the previous month.
May 03, 2024 | 12:31 pm
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NEUTRAL IMPACT
The slight increase in the U6 unemployment rate to 7.4% could have a marginal impact on the SPY as it reflects broader labor market conditions.
The U6 rate is a comprehensive measure of labor underutilization, and changes in this rate can influence market sentiment and economic outlook. However, the minor increase from 7.3% to 7.4% is unlikely to cause significant market movements but could contribute to broader economic sentiment, potentially affecting indices like SPY.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70