The US Department of Labor has released data on weekly jobless claims.
The number of first-time applicants for unemployment benefits in the US exceeded expectations in the week ended May 27. under increased by 2 thousand to 232 thousand. The data was assessed as US labor demand is still strong.
The median estimate in Bloomberg’s survey of economists was 235,000 applicants.
The number of people who applied for unemployment benefits before and continued to receive unemployment benefits showed little change, reaching 1 million 795 thousand people, with an increase of 6 thousand people in the week ending May 20.
This figure is important in terms of shedding light on how fast unemployed Americans can find new jobs.