The number of unemployed in the U.S. fell for the first time in 2 months, but out of the crisis far

The number of applications for unemployment benefits amounted to 1.48 million last week (from 15 to 21 June). This indicator remains at a high level. But the total number of people receiving benefits at the present time fell below 20 million for the first time in 2 months, says CNBC.

Количество безработных в США снизилось впервые за 2 месяца, но до выхода из кризиса далеко

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Economists surveyed by Dow Jones had expected 1.35 million filings.

Although weekly figures remained high and was higher than estimates on wall street, the total number receiving benefits continued to fall and decreased by 767 thousand to 19.52 million

“All of this points to a gradual improvement in the labour market. The decrease in the number of initial bids suggests that the pace of layoffs is slowing, but is still extremely high,” said Gus Poser, chief economist at PNC Financial.

In the framework of the assistance programme for pandemic unemployment was also filed 728 120 initial bids.

This is unexpected, because all 50 States have reopened after a break for the quarantine, which began in mid-March. The increase in the number of cases of coronavirus in different States has led some governors to review relaxed policy.

“At present, the danger lies in the fact that jobless claims resume in other States where the number of infected is rapidly growing and people are starting to stay away from restaurants and shopping centers,” said Yang Shepherdson, chief economist at Pantheon Macroeconomics.

The latest data came in the 14th week in a row, when the number of applications has remained above 1 million, starting with a sharp rise in the first week, ended on 21 March after the world health organization announced the pandemic, and a large part of the US economy was closed.

Prior to this, the number of applications never exceeded a million. Record era coronavirus — 6.9 million filings recorded by the end of March.

At the state level, according to data not adjusted for seasonal factors, growth in the number of filings in California accounted for 45 930 or 19% — far more than any other state. In Pennsylvania, requests became more at 6892 is 14% more than in the previous week.

The total number of applications in Oklahoma decreased to 35 571.

Presented on Thursday, June 25, data from the U.S. labor Department showed that the number of initial claims for unemployment benefits filed during the entire period of the crisis amounted to 47.2 million — more than the population of Spain, says the New York Post.

Problems with the processing of applications still valid in some States, just one month before end of payment “coronavirus” unemployment benefits, which gave an opportunity for many to $ 600 a week over and above what they usually receive in the form of unemployment benefits in the state.

According to the National Bureau of economic research, the U.S. economy entered a recession in February, a month before the announcement of the pandemic. In the fourth quarter, the Commerce Department reported that gross domestic product decreased by 5%, and is expected to decline in the second quarter will be much worse.

Tracking system gross domestic product from the Federal reserve of Atlanta points to the GDP decline by 45.5% in the second quarter, although the experts ‘ forecasts CNBC show a more modest decline of 36.9%. Both options — much worse than during any crises that occurred in the USA since the Second world war.

However, there are signs that economic growth is accelerating. Housing and manufacturing figures show recovery. Thursday, June 25, the U.S. government reported that new orders for durable goods increased by 15.8%, which far exceeded the expected increase of 9.8%.


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