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US citizens in front of the Laboratory Department's New York office
Photo:
ANDREW KELLY / REUTERS
The corona crisis on the US labor market is not over yet: After the situation had recently eased, the number of initial jobless claims has now surprisingly increased.
In the past week, 778,000 citizens applied for public aid, as the Department of Labor announced in Washington on Wednesday.
The week before, there were 748,000 applications.
Experts had actually assumed a decrease to 730,000 applications.
The reason for this is apparently the renewed increase in the number of corona cases in autumn.
Data on the development of the overall economy were also published, but for the summer quarter ended at the end of September.
After the corona-related slump in spring, the world's largest economy achieved record growth in the period.
The gross domestic product (GDP) rose from July to September on an annualized basis by 33.1 percent, as the Department of Commerce in Washington announced on Wednesday.
This confirmed an earlier estimate exactly.
In the spring, GDP fell by 31.4 percent.
Arms deals boost US industry
The US industry reported an unexpectedly significant increase in orders for October.
Orders for durable consumer goods such as airplanes or machines increased by 1.3 percent compared to the previous month, as the Ministry of Commerce announced on Wednesday.
Experts had only expected an increase of 0.9 percent, after growth of 2.1 percent in September.
Nonetheless, the situation looks less rosy if the fluctuating arms orders are excluded.
Then only a small increase of 0.2 percent remains.
In September this was still 3.8 percent.
Against the background of the ongoing coronavirus wave in the United States, however, Federal Reserve Chairman Jerome Powell recently warned of a slowdown in the economic recovery.
The pandemic could prevent citizens from participating in economic life.
This could damage the economy.
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beb / dpa
