SPY & Initial Jobless Claims
The number of individuals who filed for unemployment insurance for the first time during the past week.
SPY Price
Initial Jobless Claims
What It Measures
Initial jobless claims counts the number of people filing new claims for state unemployment benefits each week. This is considered a leading indicator because it captures real-time layoff activity before it shows up in monthly employment reports. The data is collected from state unemployment offices and reported with only a one-week lag, making it one of the timeliest economic indicators available.
Why It Matters
**Leading Indicator**: Rising claims often precede broader labor market weakness and economic slowdowns. **Real-Time Data**: Weekly frequency provides early warning of changing labor conditions. **Recession Signal**: Sustained increases above 300,000 claims per week have historically preceded recessions. **Fed Monitoring**: The Federal Reserve watches claims data closely as an early indicator of labor market stress.
Key Levels
Data Sources
SPY: S&P 500 ETF daily OHLCV data (1993-02-02 to 2026-01-22)
Jobless Claims: ICSA - Initial Jobless Claims from U.S. Department of Labor
Units: Number, Seasonally Adjusted, Weekly