The number of Americans applying for unemployment benefit last week has fallen. According to the US Department of Labor, 712,000 applications were filed against a revised 787,000 a week earlier. It’s the first time in three weeks that there’s been a drop.
The figure is better than expected, because economists had expected 775,000 new applications on average. In recent months tens of millions of people in the United States have been using the social safety net as a result of the COVID crisis. Because large companies have announced reorganizations, many new applications continue to flow in.
Since mid-March, the number of applications for benefits in the US has been above 1 million for months because of the crisis. It was only in August that the number of applications dropped below that level for the first time in a week.