Unemployment Claims 7/7/2022

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 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 who applied for new unemployment benefits decreased by 2 thousand to 231 thousand in the week ending June 25, compared to market expectations of 228 thousand, indicating difficult business conditions. On a seasonally unadjusted basis, initial claims rose 1,060 from the previous week to 207,421, with notable increases in New Jersey (+5,471), Massachusetts (+3,152), Ohio (+2,472) and Kentucky (+1.501). The 4-week moving average was 231,750, an increase of 7,250 over the previous week's upwardly adjusted average.

Estimate for today's data is 230 thousand
In the event that the current version 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 Mecca Time