The number of applications for unemployment benefits in the US unexpectedly rose

According to the US Department of Labor, the number of initial applications for unemployment benefits for the week ended July 3, increased by 2 thousand compared with the revised figure of the previous week – to 373 thousand. Analysts, on the contrary, predicted a decline in the figure to 350 thousand.

The average number of initial applications over the past four weeks decreased by 250 from the revised figure of last week – to 394.5 thousand, which was the lowest level since March 14, 2020, when the value was 225.5 thousand.

Major US stock indexes reacted with a fall to these statistics. In particular, the Dow Jones Industrial Average (DJIA) fell 1.04% to 34321.13 points, the NASDAQ high-tech index fell 1.63% to 14426.3 points. And the broad market S&P 500 index fell 1.23% to 4304.74 points.