US initial jobs claims 232K versus 235K estimate

Initial jobs claims
  • Prior week 248K revised to 249K
  • Initial jobless claims 232K vs 235K estimate
  • 4-week MA initial jobs claims 236.25K vs 243.50K
  • Continuing claims 1.476M vs 1.580M estimate down -112K. This is the lowest level since March 14, 1970 when it was at 1.456M
  • 4-week MA of continuing claims 1.576M vs 1.625M last week. This is the lowest level since June 30, 1973 and was at 1.570M
  • Prior week was revised from 1.593M to 1.588M this week
  • The largest increases in initial claims for the week ending February 12 were in Missouri (+7,253), Ohio (+5,392), Kentucky (+4,555), Tennessee (+1,737), and Illinois (+1,488),
  • The largest decreases were in Pennsylvania (-1,688), California (-1,618), Wisconsin (-1,034), New Jersey (-941), and Connecticut (-747).

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The data is consistent with a strong employment market.

/ Jobless claims 
Jobless Claims

Jobless claims are a weekly statistic reported in the United States that represents a key barometer for domestic employment. As one of the most closely watched US indicators, jobless claims carry a lot of weight in financial markets, namely
forex and the stock market.Jobless claims are reported on a weekly basis by the Department of Labor. While painting a picture of the overall health of the economy, jobless claims can be broken down into two types.This includes initial jobless claims or persons filing for unemployment for the first time. Additionally, this also entails continuing jobless claims, indicating unemployed people who have been receiving unemployment benefits previously.Why Jobless Claims Data Matters in ForexJobless claims can give an important snapshot of the US economy, which has impactful consequences on the US dollar. During times of economic stress, a surge in jobless claims is likely to signal the US economy is performing badly. This was on full display in early 2020 due to the outbreak of Covid-19.Such scenarios reduce risk appetite by investors who traditionally look to the US economy for broader signals. History is full of examples of both expanding and contracting labor markets.By extension, reduced jobless claims traditionally is seen as a strength that can power recoveries or rallies in US markets.It should be noted that initial jobless claims and continuing jobless claims often do not yield the same market impact.This is due to the fact that initial jobless claims measure emerging unemployment, which are released one week before continuing jobless claims. As such, the initial claims typically have a higher impact on the markets.

Jobless claims are a weekly statistic reported in the United States that represents a key barometer for domestic employment. As one of the most closely watched US indicators, jobless claims carry a lot of weight in financial markets, namely forex and the stock market.Jobless claims are reported on a weekly basis by the Department of Labor. While painting a picture of the overall health of the economy, jobless claims can be broken down into two types.This includes initial jobless claims or persons filing for unemployment for the first time. Additionally, this also entails continuing jobless claims, indicating unemployed people who have been receiving unemployment benefits previously.Why Jobless Claims Data Matters in ForexJobless claims can give an important snapshot of the US economy, which has impactful consequences on the US dollar. During times of economic stress, a surge in jobless claims is likely to signal the US economy is performing badly. This was on full display in early 2020 due to the outbreak of Covid-19.Such scenarios reduce risk appetite by investors who traditionally look to the US economy for broader signals. History is full of examples of both expanding and contracting labor markets.By extension, reduced jobless claims traditionally is seen as a strength that can power recoveries or rallies in US markets.It should be noted that initial jobless claims and continuing jobless claims often do not yield the same market impact.This is due to the fact that initial jobless claims measure emerging unemployment, which are released one week before continuing jobless claims. As such, the initial claims typically have a higher impact on the markets.
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