New US unemployment benefit applications fell more than expected last week, slipping to their lowest level since the beginning of the year.
In particular, the initial applications for unemployment benefits fell by 18,000 to 215,000 for the week ended February 26, according to data released today by the US Department of Labor. Analysts’ average estimates in a Bloomberg poll put the applications at 225,000.
This was the second consecutive weekly drop in applications. At the beginning of April 2020, when the first wave of the coronavirus pandemic was pounding the USA, the applications have reached the record of 6.149 million.
Ongoing applications, meanwhile, remained virtually unchanged at 1.48 million for the week ended February 19.
Source: Capital
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