Applications for U.S. unemployment benefits decline
In the week ending December 25, the number of people who applied for unemployment benefits for the first time in the USA decreased to 198,000, contrary to expectations.
The number of people applying for unemployment benefits in the USA decreased by 8 thousand last week. The US Department of Labor has released data on weekly jobless claims.
Accordingly, the number of people claiming unemployment benefits for the first time in the country decreased by 8 thousand to 198,000 in the week ending December 25 compared to the previous week.
Contrary to expectations, unemployment benefits applications, which decreased in this period, were expected to be 208,000. The previous week’s data on the number of applications for unemployment benefits was revised from 205 thousand to 206 thousand.
As of last week, 4-week average unemployment benefits applications decreased by 7,250 compared to the previous week to 199,250, the lowest level since October 1969.
Ongoing unemployment applications, on the other hand, became 1 million 716 thousand in the week ending December 18, with a decrease of 140 thousand compared to the previous week.
The number of people applying for unemployment benefits for the first time in the USA peaked at 6 million at the end of March last year, as the coronavirus epidemic affected the labor market.
Analysts stated that the latest data on unemployment benefits applications indicate that the increase in Kovid-19 cases in the USA has not yet affected employment and that the recovery in the labor market continues.