A report issued weekly by the U.S. Department of Labor that tracks how many people have filed for unemployment benefits in the previous week. It is a good gauge of the U.S. job market. For instance, when more people file for unemployment benefits, less people have jobs, and vice versa.
Additional meaning of Initial Jobless Claims:
Investors can use this report to gather pertinent information about the economy. The report is released at 8:30AM on Thursdays and can be a market moving event.