Applications for Unemployment Benefits Increased In The US

Applications for unemployment benefits increased in the US. Unemployment claims rose for the first time since April.

Unemployment claims, which rose for the first time since April in the USA, hit a one-month high of 412,000. According to the data announced by the Ministry of Labor, applications increased by 37 thousand to 412,000 in the week ending June 12. This was recorded as the highest level seen since May 15. The median estimate of economists surveyed by Bloomberg was 360,000. Continuing applications did not change much and amounted to 3.52 million. Despite this increase, applications have decreased significantly in recent months. Economists expect the job market to continue to improve until the end of the year and the unemployment rate to fall below 5 percent by the end of the last quarter. It was reported that the US Federal Reserve (FED) officials are closely monitoring whether the employment is large-scale. Making a statement after yesterday's interest rate meeting, FED Chairman Jerome Powell stated that some factors related to the pandemic put pressure on the employment market, and that these factors will decrease in the coming months with the acceleration of vaccination and the employment market will be supported.