The number of applications for unemployment benefits in the US fell to the lowest since January

The number of Americans who applied for unemployment benefits for the first time last week decreased by 13 thousand and amounted to 198 thousand, which is the lowest since January 2023. This indicator updated the previous low and exceeded analysts' expectations.

In addition, the average number of applications for benefits in the country over the past four weeks has decreased to 205.75 thousand from the previous level of 206.75 thousand. This indicator is also an important indicator of the labor market, and its decline indicates an improvement in the market situation.

However, the number of Americans continuing to receive unemployment benefits rose to 1.734 million in the week ending October 7, slightly higher than the previous level of 1.705 million. Experts on average expected an increase to 1.71 million from the previously announced level of the previous week of 1.702 million.

A reduction in the number of new applications for benefits and an improvement in the average indicator indicate a potential strengthening of the labor market in the United States, but the situation remains dynamic and requires careful monitoring.