Unemployment insurance claims in the US fall for the second week

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(Bloomberg) – Unemployment benefits claims in the United States declined last week, highlighting the latest incremental improvement in the job market.

Initial claims for unemployment benefits in regular state programs totaled 385,000 in the week ending July 31, 14,000 less than the week before, data from the Labor Department showed Thursday. The figure was in line with the median estimate of economists polled by Bloomberg, who projected 383,000 new applications.

Continued claims for state benefits fell to 2.93 million in the week ending July 24, a new low for the pandemic.

Over the past eight months, stronger business conditions and fewer layoffs have driven the downward trend in claims for unemployment insurance. While economists generally expect requests to continue to decline in the coming months, the rapidly spreading delta variant poses a risk to the pace of the recovery.

Policymakers have started to introduce measures to slow the spread of the new variant of Covid-19 and prevent another round of shutdowns.

New York City will require proof of vaccination for workers and customers of restaurants, gyms and indoor entertainment venues. Meanwhile, the Centers for Disease Control and Prevention updated its guidance on indoor mask use to include primary and secondary school classrooms and vaccinated people living in places with high levels of contagion.

Nota Original:U.S. Initial Unemployment Claims Decline for a Second Week

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