Unemployment Claims Continued To Decline In The US

In the US, unemployment claims continued to decline. Applications for unemployment fell to the lowest level of the pandemic in the country.

As of the week of May 8, unemployment benefit applications in the country decreased by 34 thousand compared to the previous week and were recorded as 473 thousand. The figure recorded as of the week of May 8 was recorded as the lowest weekly figure of the pandemic period. Especially the acceleration of vaccination practices and the recovery in consumer demand were listed as the factors that accelerated the decline in unemployment applications.

Non-Farm Employment Data Was Weak

Non-agricultural employment in the USA increased by 266 thousand in April. Economists expected this data to increase by 1 million. In April, the unemployment rate in the country had increased to 6.1 percent. Economists' expectation was that unemployment would be 5.8 percent in April. Thus, the country has seen an increase in unemployment for the first time since April 2020.