7thDecember 2023
Thursday
On Thursday, December 7, 2023, the United States isscheduled to release its Unemployment Claims figures.
USD – Unemployment ClaimsWhile typically considered a lagging indicator, the unemployment rate is a crucial measure of economic well-being since consumer spending closely mirrors the state of the job market. Additionally, unemployment figures are a significant factor for decision-makers in shaping the nation's monetary policy.
In the latest labor market update for the week ending November 25, the United States saw a slight uptick in initial jobless claims. The seasonally adjusted figure rose to 218,000, marking a 7,000 increase from the prior week's revised level, which itself was adjusted upward by 2,000 to 211,000. However, the four-week moving average, a more stable measure, dipped slightly to 220,000, a reduction of 500 from the previous week's revised average. In a related development, the seasonally adjusted insured unemployment rate for the week ending November 18 climbed modestly to 1.3%, a 0.1 percentage point increase from the previous week. The number of people receiving unemployment benefits also rose, reaching 1,927,000 - the highest since November 27, 2021. This figure represents an 86,000 increase from the preceding week's revised level. Concurrently, the four-week moving average for insured unemployment reached 1,865,750, the highest since December 11, 2021, and an increase of 28,750 from the prior week's revised average.
TL;DR
Metric
Current Week
Previous Week
Change
Notable Point
1 Initial Jobless Claims
218,000
211,000 (before revision)
+7,000
Slight uptick in jobless claims
2 Prior Week's Revised Level
211,000
209,000 (before revision)
+2,000
Revised upward by 2,000
3 Four-Week Moving Average (Jobless Claims)
220,000
220,500
-500
Slight dip in the average
4 Insured Unemployment Rate
1.3%
1.2%
+0.1 percentage points
Modest increase
5 Number Receiving Unemployment Benefits
1,927,000
1,841,000
+86,000
Highest since Nov 27, 2021
6 Four-Week Moving Average (Insured Unemployment)
1,865,750
1,837,000
+28,750
Highest since Dec 11, 2021
The Forecasts suggest a moderate increase in unemployment claims, moving up from the previous figure of 218,000 to an anticipated 225,000.
The upcoming release of the Unemployment Claims is scheduled for Wednesday, December 7, 2023, at 1:30 PM GMT.
The last time, the US Unemployment Claimswas announced on the 30th of November, 2023. You may find the marketreaction graph (GBPUSD M5) below:
