The Number Of Americans Who Applied For Unemployment Benefits Fell Last Week

The Number Of Americans Who Applied For Unemployment Benefits Fell Last Week

The number of Americans who applied for unemployment benefits fell last week. And more than economists estimated, to the lowest level since the end of March. However, The US Department of Labor reported that it still remains well above pre-pandemic levels, although current results signal a gradual recovery in the US labor market. According to the latest data, the number of new applications for unemployment benefits in the US fell by 48,000 to 709,000 in the week to November 7, from a revised level of 757,000 the week before. At the same time, economists estimated that their number would fall to 735,000 from the original 751,000 before the revision. The number of new applications reached its lowest level since the end of March last week, but remained well above pre-pandemic levels. And it is still higher than the "pre - pandemic" record of 695,000 applications from 1982. The four-week average of the number of new applications, which is a more accurate indicator of labor market developments, as it is not subject to fluctuations such as weekly data, fell by 33,250 to 755,250 in the period under review. The ministry said the number of people receiving unemployment benefits after the first week fell by 436,000 to 6.79 million in the seven days to October 31.