U.S. initial jobless claims rose by 7,000 to 343,000 last week

The number of people who filed for unemployment assistance in the U.S. rose more than expected last week, official data showed on Thursday. 

The Labor Department said the number of individuals filing for initial jobless benefits in the week ending July 20 increased by 7,000 to a seasonally adjusted 343,000, compared to expectations for an increase of 6,000 to 340,000.

Jobless claims for the preceding week were revised up to 336,000 from a previously reported 334,000.

The four-week moving average was 345,250, a decline of 1,250 from the previous week's revised average of 346,500

The monthly average is seen as a more accurate gauge of labor trends because it reduces volatility in the week-to-week data.

Following the release of the data, the U.S. dollar was lower against the euro, with EUR/USD up 0.18% to 1.3222.

Meanwhile, U.S. stock index futures were broadly lower. The Dow Jones Industrial Average futures indicated a decline of 0.40% at the open, S&P 500 futures pointed to a 0.10% increase, while the Nasdaq 100 futures indicated a decline of 0.16% at the open.