Number of US applications for unemployment benefits increased

Unemployment

UnemploymentThe number of applications for unemployment benefits in USA grow to the highest level since August, but still remains low enough to show security for workers. The Ministry of Labor reported that the new claims for unemployment benefits in Week 42 (ending on October 28) increased by 7,000 to a seasonally adjusted 265,000. which is the highest level since August. However, the number is below 300,000 for the 87th consecutive week and the longest period since 1970, when the labor force was much smaller in number.

The four-week average value of applications for unemployment benefits, which smooths out the volatility, rose by 4,750 to 257,750.

The US unemployment in September was 5%, which is close to the level defined by economists as full employment.

On Friday, will appear the official employment data, which are closely monitored by the markets and by the US Federal Reserve.

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