05/07/2021

United State: lower applications for unemployment benefits

1 min read
Unemployment subsidy requests in the United States fell last week by 18,000 and stood at 214,000, the Labor Department reported today.
subsidies in the united states

Unemployment subsidy requests in the United States fell last week by 18,000 and stood at 214,000, the Labor Department reported today.

This decline was more pronounced than expected by analysts, who had predicted 226,000 new applications for last week, which ended on July 7.

Regarding the average of applicants for the subsidy during the last month, a more reliable indicator of the labor market in the US, fell by 1,750 applications and stood at 223,000, according to the government report.

Requests for unemployment benefits carry 175 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 continued to fall by 3,000, reaching 1.74 million, a figure close to the lowest level since 1973.

The strength of the labor market has been maintained during the first year and a half of the mandate of US President Donald Trump, and in June the unemployment rate stood at 4%.

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