Unemployment Claims 2/6/2022
This article includes an explanation of unemployment claims rates, their impact on financial markets, expectations for today's data, and a review of previous data
The Unemployment Claims rates determine the amount of individuals claiming unemployment insurance for the first time during the past week. This weekly indicator provides very timely data, but traders see unemployment as a slowing indicator that gives little indication of the future performance of the economy. A downward trend has a positive effect on a country's currency, as workers tend to spend more money, and consumption makes up a large part of GDP.
The number of Americans filing new claims for unemployment benefits fell by 8,000 to 210,000 in the week to May 21, from the previous week's unadjusted level of 218K and above market estimates of 215K. On a non-seasonally adjusted basis, initial claims were down 14,534 from the previous week to 183,927, with notable declines in California (--5,316), Illinois (-4,059), Kentucky (-3,564) and New York (- 1,409). The 4-week moving average, which removes weekly volatility, was 206,750, 7,250 more than the previous week's unrevised average of 19,500
Estimate for today's data is 210 thousand
In the event that the current release was less than expected, this is an indication of the lack of unemployment complaints, which affects the currency in a positive way and vice versa
The statement will be issued at 3:30 pm Beirut time
Tags : USD