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


July, 08 2021
watermark Economic news

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.


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Foreign exchange is highly speculative and complex in nature, and may not be suitable for all investors. Forex trading may result in a substantial gain or loss. Therefore, it is not advisable to invest money you cannot afford to lose. Before using the services offered by ForexMart, please acknowledge the risks associated with forex trading. Seek independent financial advice if necessary. Please note that neither past performance nor forecasts are reliable indicators of future results.