2023-05-25 23:47:26
Economic data published on Thursday showed that the number of applications for unemployment benefits rose, for the first time, in the United States during the past week, by a slight rate.
The US Department of Labor stated that the number of applications during the week ending on May 20th amounted to 229,000, an increase of 4,000 applications from the previous week, when 225,000 applications were registered, according to the revised data.
Analysts had expected the number of jobless claims to rise last week to 245 thousand, compared to 242 thousand applications in the previous week, according to preliminary data.
The number of applications decreased in the week ending last May 6, according to preliminary data, to 231 thousand applications, compared to 264 thousand applications in the previous week, and it was the highest level since October 30, 2021.
Meanwhile, data from the Ministry of Labor showed that the average number of applications during the past four weeks, the least volatile, settled at 231,75 thousand applications per week during the past week, which is the same number of applications in the previous week, according to the revised data.
At the same time, the Ministry of Labor said that the number of continuous unemployment benefits applications declined during the week ending May 13, by 5,000 applications to reach 1.794 million applications.
The average number of continuous aid applications during 4 weeks amounted to 1,800,250,000, a decrease of 12,25,000 from the previous week, which recorded 1,812,500,000 applications, according to the unadjusted data.
Today, the US Department of Labor is scheduled to announce job market data for May.
Analysts expect an increase in the number of jobs during the current month by 180 thousand jobs following an increase of 253 thousand jobs during the last month, while it is expected to announce the continuation of the unemployment rate at the level of 3.4%.
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