Unemployment benefit applications in the US drop to 400,000

15 minutes. The weekly number of applications for unemployment benefit in the United States (USA) decreased last week to 400,000 compared to 424,000 the previous week. This was reported this Thursday by the Bureau of Labor Statistics (BLS).

The average number of requests in 4 weeks, a measure that compensates for the weekly ups and downs, stood at 394,500. In contrast, the previous week it was 386,500.

In the week ending July 17, according to BLS, there were 3.26 million people receiving this social benefit, a figure almost similar to the previous week. Analysts had expected a decline to some 3.19 million recipients of unemployment benefits in the US.

The weekly average of these requests, which was around 205,000 processes before the impact of the pandemic, jumped to an unprecedented 6.8 million in the last week of March 2020.

Since then it has been decreasing and marked its lowest level, with 368,000 applications, in the last week of June and the second of July.

GDP rose

For its part, the US Gross Domestic Product (GDP) increased 1.6% in the second quarter, so that the annualized rate stood at 6.5%, the Office of Economic Analysis (BEA) reported this Thursday.

The value of economic activity now exceeds pre-COVID-19 pandemic levels reflecting the reopening of businesses, vaccinations and government stimulus programs.

Money managers are not overly exposed to the stock market

“It looks like The Revenant” – The News of Chihuahua – Entrelíneas