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US unemployment benefit claims continue downward trend

For the first time in the US, the number of applicants for unemployment benefits fell to 847,000 in the week ending January 23.

The US Department of Labor released data on weekly unemployment benefits.

Accordingly, the number of people who demanded unemployment benefits for the first time in the country was 847 thousand, decreasing by 67 thousand people in the week ending January 23 compared to the previous week.

The data, which followed a course below the market expectations, was expected to realize at the level of 875 thousand.

The previous week’s data regarding the number of unemployment benefit applications has been revised from 900 thousand to 914 thousand.

As of last week, 4-week average unemployment pension applications increased by 16.250 compared to the previous week and reached 868 thousand. Ongoing unemployment applications were recorded as 4 million 771 thousand with a decrease of 203 thousand compared to the previous week in the week ending January 16.

Although weekly unemployment benefits have decreased in the last 2 weeks, the new type of coronavirus (Covid-19) continued to remain well above the levels before the pandemic.

Analysts stated that the pandemic is far from being controlled, and that unemployment pension applications may continue to remain at higher levels for a while.

Written by Maraaz

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