The number of Americans who applied for unemployment benefits for the first time increased by 9 thousand last week and reached 244 thousand people, according to a report from the Department of Labor USA. This is the highest level since the beginning of November 2021.
Analysts, on average, had expected a decline to 234,000 from the previously announced level of the previous week, according to MarketWatch. Respondents from Trading Economics and Bloomberg did not expect a change.
Meanwhile, the average number of applications over the past four weeks, a less volatile indicator, increased by 3.25 thousand to 235.75 thousand.
The number of Americans continuing to receive unemployment benefits for the week ended July 9 fell to 1.331 million from a revised 1.372 million in the previous week. This figure has returned to pre-pandemic levels.
At the same time, experts on average predicted an increase to 1.383 million, according to Trading Economics.