The number of applications for unemployment benefits in the United States dropped to a minimum in 7 weeks

The number of Americans who applied for unemployment benefits for the first time fell to 227,000 last week, which is 5,000 less than the figure a week earlier. The current level was the lowest since the end of May, indicating the continued stability of the labor market.

The data for the previous week was revised – instead of the previously announced 233 thousand requests, the agency recorded 232 thousand. Experts expected an average increase to 235,000, but the statistics turned out to be better than forecasts.

A decrease is also observed in a more stable indicator – the average number of applications over the past four weeks: it dropped to 235.5 thousand compared to 241.25 thousand a week earlier.

At the same time, the number of citizens who continue to receive benefits increased to 1.965 million in the week ending June 28. This is the maximum value since November 2021. For comparison, a week earlier, there were 1,955 million such applications (revised from the previously published 1,964 million). The consensus forecast of analysts assumed an increase to 1,980 million.

The growing number of people who continue to receive benefits indicates possible difficulties in re-employment for some categories of workers, despite the overall high demand for labor in the US economy.