Financial literacy gained YEN-kura’s Investment University (Academia) | Episode 7 [YEN-kura]

YEN-kura-san's Profile

Enzo. He has worked for more than 20 years as a foreign exchange dealer at U.S.-based Citibank, U.K.-based Standard Chartered Bank, and other foreign banks. Currently, as a top professional trader, he trades currencies, the Nikkei Stock Average, Nikkei options, and individual stocks. President and CEO of ADVANCE Co., Ltd., which primarily distributes investment information. He has deep knowledge not only of major currencies such as the dollar and euro, but also of emerging currencies, including Asian currencies, in his dealings. He also maintains close relationships with foreign traders and fund personnel.

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※This article is a republication/edit of an article from FX攻略.com August 2020 issue. Please note that the market information written here may differ from current market conditions.

The Largest Drop in Employment on Record

With the spread of the novel coronavirus, the global economy is experiencing a sharp downturn. A slowdown in the economy inevitably worsens employment conditions, but what makes this employment downturn stand out compared to past recessions is the speed at which it has occurred.

While many countries are in the same situation, first, let's look at the U.S. employment statistics. In the April U.S. employment report released on May 8, the unemployment rate rose to 14.7%. It quickly jumped from a historically low 3.5% reported on March 6, within just two months. The unemployment rate of 3.5% was the lowest since 1969 when it was 3.4%. It rose to 4.4 on April 3, and now to 14.7% (Figure 1).