Employment Market In The USA Is Improving

In the US, unemployment pension claims hit the lowest level of the attack period.

The employment market in the USA is improving. Applications for unemployment benefits in the US dropped to a one-year low. The latest figures announced pointed to an improvement in the employment market. According to the data released by the US Department of Labor, applications for unemployment benefits fell by 97 thousand in the week ending March 20 and reached 684 thousand. The median estimate of the economists who participated in the Bloomberg survey was that the applications were realized as 730 thousand. Thus, the applications fell below 700 thousand for the first time since the epidemic started. The removal of coronavirus restrictions in many states and the access of the vaccine to the masses has shown its effect on the improvement in the employment market. Despite all these positive developments, there is still a long way to go in employment. US Federal Reserve (FED) Chairman Jerome Powell said in a speech that weakness continues in some sectors that have suffered more from the coronavirus epidemic, even if the recovery is faster than expected. Ongoing applications decreased by 264 thousand in the week ending March 13, and realized at the level of 3.87 million. According to another data released today, the fourth quarter annualized growth data was revised as 4.3 percent instead of 4.1 percent.