Unemployment Claims (US)
Unemployment Claims Cool Off, But Remain Extraordinarily High
Starts Thursday, May 21, 2020 at 12:30
Updated Thursday, May 21, 2020
The unemployment claims report has lost importance in the last several years, as the global economic crisis of a decade ago slowly started to fade. As a result, it wasn't very important how many people were laid off. But, the report showing the third week of March showed that the jobless claims jumped by more than 3 million people, as the US started to shut down due to coronavirus, but it more than doubled two weeks ago and last week they were really high as well at 4,427k and were expected to come down to 3,500k, but came at 3,839K. In the last two weeks jobless claims cooled down further to 3,169k and 2,981k respectively, which is still a rally high number. Please follow us for coverage of this event live by experienced market analysts.
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About Unemployment Claims (US)
Released by the U.S. Department of Labor, Jobless Claims are reported in two ways: Continuing and Initial. Continuing Jobless Claims are the number of individuals currently drawing unemployment benefits. Initial Jobless Claims are the number of individuals filing for unemployment benefits for the first time.Both reports are widely viewed as secondary metrics toward the U.S. economic situation. While they are representative of employment levels, Non-Farm Payrolls and Unemployment are the valued statistics in this area.Low levels of both Continuing and Initial Jobless claims are viewed as being positive (bullish) for the USD, while rising levels are negative (bearish).