The number of Americans applying for new unemployment benefits fell last week, slipping closer to the levels before the outbreak of the coronavirus, as the labor market recovery continues to gain momentum.
In particular, the initial applications for state unemployment benefits fell by 1,000 to the seasonally adjusted size of 268,000 for the week ended November 13, according to the US Department of Labor.
This is the lowest level since the outbreak of the pandemic in the US more than 20 months ago. Analysts’ average estimates in a Reuters poll put the applications at 260,000.
This is the seventh consecutive week that applications are falling. At the height of the crisis, in early April 2020, when the US government and states were forced to close millions of companies to stem the pandemic, applications soared to a record high of 6.149 million.
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Source From: Capital
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