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INITIAL JOBLESS CLAIMS
Definition
Forex brokers and traders rely on economic indicators in order to make informed decisions about investing. The Initial Jobless Claims Report is one such indicator that tracks changes in the employment market. The information represents the number of individuals who have filed for state unemployment benefits during a one week period.
FX Trading Importance
An active forex broker or trader will use the Initial Jobless Claims Report to gauge the health of the economy and to predict future movement. Significant increases in jobless claims potentially point to slowing job growth and a further increase in unemployment. An increase in jobless claims signals accelerating growth and a sound economy.
However, these figures are known to be somewhat volatile, so the even-tempered forex broker or trader will usually consider Initial Jobless Claims as a four-week average. Anything less than 30,000 claims up or down can be considered normal fluctuation and should not have much effect on forex trading habits as a whole.
Initial Jobless Claims Source
This report is compiled by the Department of Labor, Employment and Training Administration
Initial Jobless Claims Availability
Data can be found online at http://www.dol.gov/
Initial Jobless Claims Frequency
Initial Jobless Claims are released weekly.