US New Unemployment Claims Fall Below Market Expectations

208,000 Cases Last Week... Same as the Previous Week

Last week, the number of new unemployment benefit claims in the United States came in below market expectations, indicating continued strength.

According to the U.S. Department of Labor on the 2nd (local time), the number of new unemployment benefit claims for the week of April 21-27 was recorded at 208,000. This figure was below the expert forecast of 212,000 and remained at the same level as the previous week (208,000).

The number of new unemployment benefit claims, which reflects corporate layoff trends, has been hovering around 200,000 since mid-September last year. Compared to the period before the COVID-19 pandemic, this is still a record low level.

The number of continuing unemployment benefit claims, which counts those applying for benefits for at least two weeks, was recorded at 1,774,000 for the week of April 14-20. This was at the same level as the previous week.

The U.S. Federal Reserve (Fed) is monitoring related indicators closely, as it views an overheated labor market as a potential driver of inflation.