The data from the Labor Department revealed on Thursday the number of applications for unemployment unexpectedly increased last week.

According to the report, the initial claims for unemployment benefits increased by 16,000 to 744,000 for the week ended April 3. This marked the third consecutive weekly increase in initial unemployment claims.

Economists had expected 680,000 new claims last week.

Claims for the prior week were revised upwardly to 728,000 from the initial estimate of 719,000.

Meanwhile, the four-week moving average of jobless claims rose to 723,750 from an upwardly revised 721,250 in the previous week.

Continuing claims dropped to 3,734,000 from a downwardly revised 3,750,000 in the previous week.