What is Initial Jobless Claims?
Initial Jobless Claims is a report issued by the U.S. Department of Labor every Thursday at 8:30am EST.
How Does Initial Jobless Claims Work?
The data in the Initial Jobless Claims report reflect how many people filed for unemployment in the previous week. Therefore, this indicator is indicative of growing, rather than sustained unemployment.
Why Does Initial Jobless Claims Matter?
Financial analysts estimate what this figure will be and incorporate that estimation into their market projections. If the actual number of claims differs significantly from analysts' estimates, financial markets will face a correction to factor in the revealed data.