02/28/2021

Historical minimates! Applications for unemployment benefits reach 222,000

1 min read
Requests for aid for unemployment in the United States rose last week by 11,000 to 222,000, but the indicator remains at minimum levels not seen for 49 years, the Labor Department reported today.
Applications for unemployment benefits

Requests for aid for unemployment in the United States rose last week by 11,000 to 222,000, but the indicator remains at minimum levels not seen for 49 years, the Labor Department reported today.

The data is higher than the forecasts of analysts, who anticipated 215,000 new requests.

Regarding the average of applicants for the subsidy during the last month, a more reliable indicator of the labor market in the US, decreased by 2,750 and stood at 213,500, according to the Government’s report.

The demands for unemployment benefits carry 167 consecutive weeks below the figure of 300,000, a sign of good health in the US labor market.

The total number of people receiving unemployment benefits continuously decreased by 87,000, to 1.71 million.

The strength of the labor market has been maintained during the first year of the president’s term, Donald Trump, and in April the unemployment rate stood at 3.9 percent, the lowest level in almost 18 years.

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