Unemployment Claims

The Unemployment Claims Rate determines the amount of individuals who claimed unemployment insurance for the first time during the past week. This weekly indicator provides very temporary data, but traders see Unemployment as a lagging indicator that gives little indication of the future performance of the economy. The downward trend has a positive effect on the country's currency, as working people tend to spend more money, and consumption makes up a large portion of GDP
The number of Americans filing for unemployment benefits fell by 18,000 to 228,000 in the week ending April 1st. The previous week's data was sharply revised to 248K from 196K initially reported reflecting a change in seasonality adjustment methodology by the US Department of Labor. Significant revisions since 2018 show that claims for unemployment benefits were much higher than previously reported, consistent with other recent jobs data showing some softening in the labor market. The four-week moving average, which removes weekly volatility, fell by 4,250 to 237,750. On a non-seasonally adjusted basis, initial claims decreased by 17,262 to 206,931, with notable decreases in California (-6,337) and Michigan (-3,333).

Outlook for today's statement and how it will affect the currency

The expected result for today's statement is 233 thousand
In the event that the current statement issued a result higher than expected, it will positively affect the currency, and vice versa

The timing of the statement

The report will be issued at 3:30 pm Mecca Al-Mukarramah time