The number of applications for unemployment benefits in the US last week was lower than expected

According to the US Department of Labor, last week ending May 4, the number of Americans, who applied for unemployment benefits for the first time, fell by 2,000 to 228,000, while economists had expected a more significant decline to 220,000. Analysts believe that the fact that the indicator turned out to be higher than market expectations indicates a possible slowdown in the American labor market, although the ministry explained the instability of applications for benefits in recent weeks with different times of Easter holidays and school spring breaks. The April unemployment rate in the United States was the lowest in almost 50 years, 3.6%, while the US economy added 263,000 new jobs. The number of US citizens who repeatedly applied for unemployment benefits, for the week ending April 27, increased by 13 thousand to 1 million 680 thousand people.

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