According to the US Department of Labor, the number of applications for state unemployment benefits unexpectedly increased over the past week, reflecting the volatility of weekly data, as this figure has generally declined throughout the economic recovery period. The number of initial applications increased to 351 thousand for the week ended September 18. The consensus forecast of economists predicted a reduction in the number of new applications to 320 thousand. The number of secondary applications for state benefits increased to 2.8 million for the week ended September 11. Economists also expect a slowdown in economic growth in the third quarter against the background of reduced spending on stimulating the economy. At the same time, analysts note that the termination of federal benefits during the pandemic has not yet led to an increase in the number of job applications.
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