The number of applications for unemployment benefits in the United States exceeded the forecast

Experts talk about slowing economic recovery after the pandemic.

The number of initial applications for unemployment benefits in the United States unexpectedly increased last week, which was another indication of the slowdown in the economic recovery after the pandemic.

Last week’s number of applications increased by 23,000 to a seasonally adjusted 885,000. Economists polled by Reuters had forecast 800,000 applications.

On Thursday, data showed a weakening of industrial activity in the Mid-Atlantic States, where manufacturing reported a sharp decline in the number of orders and a slowdown in job growth.

At the same time, the housing market remains stable. Against the background of lower mortgage rates and increased demand, an increase in the volume of residential real estate construction and the number of construction permits issued was recorded in November.

On Wednesday, Federal Reserve Chairman Jerome Powell acknowledged a slowdown in economic activity after a record jump in growth in the third quarter. Powell warned that “the way forward remains very uncertain.” The regulator kept its benchmark interest rate near zero and promised to continue injecting funds into the economy through asset purchases.

Google News button