Unemployment Claims 28/7/2022

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 filing new applications for unemployment benefits jumped by 9,000 to 251 thousand in the week that ended July 16, the highest level since November 2021 and well above market expectations of 240,000, indicating a cooler job market. On a seasonally unadjusted basis, initial claims rose by 7,853 from the previous week to 248,991, with notable increases in Massachusetts (+14,136), California (+3,815), and South Carolina (+2,992). The 4-week moving average, which removes week-to-week volatility, was at 240,500, an increase of 4,500 over the previous week's upward-adjusted average of 236,000

Estimate for today's data is 253 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