The number of applications for unemployment benefits in the United States fell below 300 thousand

According to the US Department of Labor, the number of applications for unemployment benefits in the country fell below 300 thousand for the first time since March 2020. The indicator decreased by 36 thousand and reached the level of 293 thousand. Analysts predicted a decline to only 319 thousand. The indicator for the week ending October 2 was revised to 329 thousand from 326 thousand.

Below the 300 thousand mark, the indicator fell for the first time since March 14, 2020. Then the number of applications amounted to 256 thousand, and then, due to the pandemic, it jumped sharply – by 3 million at once. At the same time, the rate of decline in the indicator for the week to October 9 became the highest since the end of June.

The average number of initial applications over the past four weeks decreased by 10.5 thousand from the revised level of last week to 334.25 thousand. The previous figure was revised to 344.75 from 344 thousand. The total number of people receiving unemployment benefits in the United States fell to 2.593 million people.