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Spike in Unemployment Benefit Claims in the US

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In the US, the number of first-time claims for unemployment benefits rose to 225,000 in the week ending September 28, exceeding market expectations. The Department of Labor released weekly data on unemployment benefit claims. Accordingly, the number of first-time unemployment benefit claims in the country increased by 6,000 to 225,000 in the week ending September 28 compared to the previous week. Market expectations for the number of unemployment benefit claims in this period were 222,000. The data on unemployment benefit claims from the previous week was revised from 218,000 to 219,000. As of last week, the four-week average of unemployment benefit claims decreased by 750 to 224,250. The continuing claims for unemployment benefits also dropped by 1,000 individuals to 1.826 million in the week ending September 21.

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