Unemployment Claims 6/10/2022

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 a slight 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 16,000 to 193,000 in the week that ended September 24, the lowest level since the end of April and well below market expectations of 215,000, indicating an increasingly tight labor market and adding further room for a lift. Interest rates by the Federal Reserve. On a seasonally unadjusted basis, initial claims decreased by 12,642 to 156,060, with notable declines in Michigan (-5,674), New Jersey (-1,521) and New York (-1,266). The 4-week moving average, which removes weekly volatility, is down 8750 from the previous week to 207000

Forecasts for today's data and how it affects the currency

Estimate for today's data is 205 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

Data release time

The statement will be issued at 3:30 pm Beirut time