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US applications for unemployment benefits remained to lowest level since mid-April

The number of submitted applications for unemployment benefits last week remained to the lowest level since mid-April, which is a serious signal for stable labor market in USA. The submitted documents will remain unchanged at level of 254,000 during the week ended July 8, while the median forecast of economists was for increase to 265,000. In April, the value of submitted applications for unemployment benefits fell to 40-year low of 248,000. However, the companies have difficulty finding skilled and experienced employees and are reluctant to lay off workers as demand for staff increases after a weak start to the year.

The weekly applications for unemployment benefits are under 300,000 for 71 consecutive weeks, which the longest period since 1973 and significant sign of a healthy labor market.

The data for submitted applications for unemployment benefits in July may suffer serious fluctuations, as automakers begin the process of temporarily closing factories to equip them for the new models. In Michigan, for example, documents filed last week grow with over 9,000 when adjusted data, while those in Ohio rose by nearly 2,300. Because of these seasonal fluctuations, the economists focus on the average of the last four weeks, which decreased to 259,000 and the lowest since the end of April.

The number of Americans who continue to receive unemployment benefits grow by 32,000 to 2.15 million during the week ended July 1.

During the last wee,k US employment in June reported a sharp rise, as companies outside agriculture added 287,000 jobs after disappointments growth of 11,000 jobs opened in May.

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