US Weekly New Unemployment Claims at 787,000... Lowest Since March

[Asia Economy Reporter Jeong Hyunjin] Last week (October 11-17), the number of new unemployment insurance claims in the United States was recorded at 787,000, a decrease of 55,000 from the previous week, the U.S. Department of Labor announced on the 22nd (local time). This figure is significantly lower than market experts' expectations of 870,000 claims.

The number of new unemployment insurance claims has fluctuated this month. At the beginning of the month, it was recorded at 767,000, but a week later, on the 10th, it increased by nearly 10% to 842,000. However, it has turned downward again within just one week.

CNBC explained that this figure is the lowest since early March when the novel coronavirus disease (COVID-19) spread. According to Bloomberg News, on March 14, the number of new unemployment insurance claims was recorded at 282,000, but due to the impact of COVID-19, it sharply increased to as high as 6.65 million by the end of March.