For the first time since April, weekly claims for unemployment benefits rose in the United States.

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source: bloombergquint.com

For the first time since April, weekly claims for unemployment benefits rose in the United States.

Applications had fallen for six consecutive weeks, and economists had expected the trend to continue, but the figure was higher: 412,000

Last week, the Labor Department reported that the unemployment rate in May fell three-tenths and stood at 5.8%, for the first time below 6% since the pandemic hit the US job market.

The weekly number of applications for unemployment benefits in the United States rose last week to 412,000. Compared with 375,000 in the previous seven days, the Bureau of Labor Statistics (BLS) reported Thursday.

It is the first rise in this indicator since April after a sustained reduction as the country's economy has been reactivated with progress in vaccination.

Most analysts expected a lower number of applications, roughly 360,000, at a time when the job market continues to recover along with the economy. In contrast, the daily number of new cases of covid continues to decline.

Weekly jobless claims had fallen for six weeks in a row, and economists had expected another drop last week. Nevertheless, the report shows that the four-week average number of applications, smoothing weekly fluctuations, fell from 8,000 last week to 395,000 after being hit by an epidemic in March 2020. The average is four weeks.

The fact that applications are increasing slightly "shouldn't be a cause for concern just yet," said AnnElizabeth Konkel, an economist at Indeed Hiring Lab.

"The big picture is that although we have not returned to a 'normal level of initial requests, they are no longer astronomically high," he added.

Last week, the Labor Department reported that the unemployment rate in May fell three-tenths and stood at 5.8%, for the first time below 6% since the pandemic hit the US job market.

The average number of applications in four weeks, a measure that compensates for weekly variations, fell to 395,000, the lowest level since March 2020, compared with 428,000 processes until the previous week.

Furthermore, in the week ending June 5, there were 3.5 million people receiving unemployment benefits, at the same level as in the previous week.

A year ago, almost 1.5 million people had applied for unemployment benefits in one week.