According to the US Department of Labor, the number of initial jobless claims in the US fell by 111,000 last week, to 730,000. Analysts on average expected the number of applications to drop to 838 thousand from the previously announced level of the previous week. According to the revised data, last week the number of requests was 841 thousand, and not 861 thousand, as previously reported.
Similar indicators became the lowest in the last three months, showing the strongest weekly decline since the end of August.
Despite this, the number of new applications for unemployment benefits remains high amid a slow recovery in the labor market due to restrictions related to the pandemic and a lack of fiscal support.
The number of Americans who continue to receive unemployment benefits for the week ended February 13 fell to 4.419 million from the revised 4.520 million a week earlier. Experts expected the indicator to decline to 4.467 million from the previously announced 4.494 million.