The number of Americans who first applied for unemployment benefits in the week ended September 26 was 837,000, according to a report from the US Department of Labor.
According to the revised data, a week earlier the number of requests was 873 thousand, and not 870 thousand, as originally reported. Experts expected a less significant decline in the indicator вЂ” to 850 thousand, according to data from Trading Economics. Thus, the number of new applications remains above 800 thousand for the fifth week in a row.
The average number of applications over the past four weeks, a less volatile indicator, decreased by 11.75 thousand and amounted to 867.25 thousand. This is the lowest value since March. A week earlier, the figure was 879 thousand, not 878.25 thousand, as previously reported.
The number of Americans who continue to receive unemployment benefits for the week ended September 19 fell to 11.767 million from a revised 12.747 million a week earlier. This is at least since the beginning of April. Experts expected the indicator to decrease to 12.225 million from the previously announced 12.58 million.
The number of new applications has dropped significantly from a peak of almost 7 million in March but has frozen at just below 900 thousand since the last week of August, reflecting a slowdown in the recovery in the labor market, writes The Wall Street Journal.