Although the number of people applying for unemployment benefits for the first time in the USA increased to 220 thousand in the week ending September 9, it was below market expectations.
The US Department of Labor announced data on weekly unemployment benefit applications.
Accordingly, the number of people applying for unemployment benefits for the first time in the country increased by 3 thousand people in the week ending September 9 compared to the previous week, reaching 220 thousand.
Unemployment claims, which were below market expectations, were expected to be 225 thousand in this period.
The previous week’s data on unemployment benefit applications was also revised from 216 thousand to 217 thousand.
As of last week, the 4-week average unemployment benefit applications decreased by 5 thousand people compared to the previous week, falling to 224 thousand 500.
Ongoing unemployment benefit applications increased by 4 thousand people in the week ending September 2, reaching 1 million 688 thousand.
Analysts said jobless claims data proves the labor market remains at historically tight levels and shows resilience to the US Federal Reserve’s (Fed) aggressive tightening cycle.