Unemployment in the USA has reached a minimum in the last 42 of the year

Unemployment in the United States reached a minimum in the last forty-two years. The number of non-working Americans who first applied for benefits in mid-July fell from 281 to 255 thousand people. This was reported on the website of the White House Labor Department.

According to Reuters, experts expected that the number of applications for benefits would fall only to 280 thousands.

The last time a smaller number of applications - 233 thousands - was registered only in November 1973. This period was marked by the oil embargo, which the Arab countries declared the United States and Western Europe for supporting Israel in the Doomsday War. The result of the actions of the largest oil exporters was a sharp rise in energy prices, which, in turn, led to the stagnation of Western economies and an increase in the number of unemployed.

Employment data, along with inflation rates and GDP dynamics, are decisive in making decisions by the US Federal Reserve on tightening or easing monetary policy. In July this year, according to Time, the head of the Federal Reserve, Janet Yellen, confirmed her intention to raise the base rate this year.