The number of applications for unemployment benefits in the United States fell

According to the US Department of Labor, the number of Americans who filed initial applications for state unemployment benefits last week fell more than expected to 709 thousand. At the same time, the figure remains at a level that raises concerns about a slowdown in the labor market recovery by background of the resumption of coronavirus diseases.

Analysts had expected the number of applications to drop to 735,000. The previous figures were revised to 757 thousand. The number of secondary applications fell to 6.786 million, which is also slightly below the forecast.

Experts note that the number of initial filings is still close to the lowest level since late March, when the first wave of layoffs related to the epidemic hit the US economy. At the same time, the indicator still exceeds the level of applications before the start of the pandemic by more than three times.

The total number of Americans receiving unemployment benefits in the United States for the week ended October 31 fell by 436 thousand from the revised figure of the previous week to 6.786 million.