US jobless claims fall to 9-month low
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The number of applications for unemployment benefits filed by US citizens for the last reporting week (October 8-14) amounted to 198 thousand, follows from report Ministry of Labor of the country. This is not only 13 thousand less than the previous week, but also the lowest figure since January of this year. At the same time, the median forecast of analysts surveyed by Reuters was 212 thousand applications.
The insured unemployment rate in the country as of October 7 was 1.2%. This figure has not changed compared to the previous week.
Despite the decrease in the number of applications for benefits, the unemployment rate itself is not decreasing. Moreover, the number of Americans continuing to receive unemployment benefits reached a three-month high this week – 1.73 million. Compared to the previous week, their number increased by 29 thousand.
This difference in the dynamics of the two indicators means that, despite the fall in the number of job cuts, those who have already been laid off are often unable to find a new job. This was confirmed by August statistics, when the unemployment rate rose from 3.5% to 3.8%.
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