Unemployment Claims (US)
Event Date: Thursday, February 8, 2024
Event Time: 13:30 CET
Updated Monday, February 5, 2024
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. Jobless claims cooled down further to 3,169kn 2,981k and 2,123k respectively, which is still a really high number and last week they fell to 1,542K, which is still a big number. They fell to 1,508K two weeks ago and to 1,480 the following week. Claims fell to 1.300 last two weeks ago but rebounded to 1,450K, while declining to 1.186K the next week. They eventually fell below 1 million in September and were headed for 700K, which is still pretty high. In the first two weeks of December, we saw a jump to 853K and 883K respectively, but they fell to 787K the last week of December and were expected to come at 785K for the first week of January, but jumped higher to 965K. They have eventually fallen below 500K and 400K as well. Claims jumped to 224K in the last reading but are expected to slow to 219k this week. 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).