According to our analysis USDJPY and EURUSD moved 17 pips on US Jobless Claims data on 1 February 2024.

USDJPY (13 pips)

EURUSD (4 pips)

Charts are exported from JForex (Dukascopy).

The latest unemployment insurance weekly claims report provides detailed statistics on initial and continued claims for unemployment benefits in the United States for the week ending January 27, 2024. Here's a summary of the key points:

Seasonally Adjusted Data

• Initial Claims: The seasonally adjusted initial claims for the week ending January 27 were 224,000, marking an increase of 9,000 from the previous week's revised level of 215,000.

• 4-Week Moving Average: The moving average of initial claims rose by 5,250 to 207,750.

• Insured Unemployment Rate: For the week ending January 20, the insured unemployment rate increased slightly to 1.3 percent, up by 0.1 percentage points.

• Insured Unemployment Numbers: Seasonally adjusted insured unemployment during the week ending January 20 was 1,898,000, up by 70,000 from the previous week's revised level.

Unadjusted Data

• Initial Unadjusted Claims: The advance number of unadjusted initial claims was 261,029 for the week ending January 27, an increase of 11,082 (or 4.4 percent) from the previous week.

• Unadjusted Insured Unemployment Rate: The unadjusted insured unemployment rate was 1.5 percent during the week ending January 20, up by 0.1 percentage point.

• Unadjusted Insured Unemployment Levels: There were 2,187,036 individuals claiming unemployment insurance in state programs, an increase of 133,750 (or 6.5 percent) from the previous week.

Additional Insights

• Total Continued Weeks Claimed: For the week ending January 13, there were 2,080,990 continued weeks claimed in all programs, a decrease from the previous week.

• Initial Claims by Federal Employees and Veterans: There was a decrease in initial claims filed by former Federal civilian employees and newly discharged veterans.

• States with the Highest Insured Unemployment Rates: New Jersey and Rhode Island had the highest insured unemployment rates at 2.6 percent.

• States with Notable Changes in Initial Claims: Wisconsin and Washington saw the largest increases in initial claims, while Texas, California, New York, Georgia, and Oregon experienced significant decreases.

This report indicates fluctuations in the job market, with an overall increase in both initial and continued claims for unemployment benefits, suggesting changes in the employment landscape.

Source: https://www.dol.gov/ui/data.pdf

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