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 11,000 from an upwardly revised seven-week high the previous week to 239,000 in the week ended Aug. 12, in line with expectations of 240,000. Although it remained low by historical standards, the number remained higher. sharply from lows recorded in the second half of July, and indicates that the US labor market is beginning to ease from very tight levels since the start of the year, which is loosely in line with recent bets that the Federal Reserve and the European Central Bank may refrain from tightening monetary policy. more this year. Meanwhile, continuing claims rose by 32,000 to 1,716,000 in the first week of August, above market expectations of 1,700,000, reflecting some additional difficulty job seekers are having in finding available jobs. The four-week moving average, which removes week-to-week volatility, rose by 2,750 to 234,250 by August 12. Non-seasonally adjusted claims decreased by 2,750, due to a sharp decline in California (-3,519).

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

The expected result for today's statement is 239 thousand
In the event that the current statement issued a result higher than expected, it negatively affects the currency, and vice versa

The timing of the statement

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