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US jobless benefits rise more than forecast

US jobless benefits rise more than forecast

The United States of America today announced a set of economic data showing the continued negative impact of the coronavirus outbreak, as unemployment benefit applications rose more than expected last week.

Initial jobless claims for the past week increased by 4.427 million, compared to forecasts of a rise of 4.350 million, while the previous reading was revised to 5.237 million from 5.245 million. Now, the jobless benefits over the past five weeks had exceeded 26 million.

The weekly government report provides the clearest proof so far that the longest employment boom in U.S. history is likely to end in March, with continued deterioration in April as well.

The pandemic has led to an unprecedented rise in the number of Americans seeking government assistance. Applications for assistance have already surpassed those peaked at 665,000 during the recession between 2007 and 2009, when 8.7 million jobs were lost.

Regarding Covid-19 latest updates, the number of people infected inside the United States is around 849,092, while the total number of deaths around 47,684.

Meanwhile, the dollar index, which measures the performance of six major currencies against the US dollar, rose 0.06 percent at 100.58.

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