The Employment Claims Report is a monthly report
composed of two major surveys that depicts the current labour
situation in the country. The first survey, known as the
Establishment Survey - covers the number of non-farm employees in
the whole country; the number of hours worked; and the average
hourly earnings of non-farm workers in the whole country. This
survey excluded the self-employed, private household and farming
jobs. It is considered to be the most comprehensive labour report
in the country.
The second survey, the Household Survey - gives the
total number of people who are unemployed and from that, the total
unemployment rate in the whole country. The report is generally
rich in details and is equipped with all the things that can
prepare the country's economy - so that it may be used to the
country's economic advantage.
As an economic indicator, the Employment Claims
Report is effective at helping the government have a better feel
about the country's overall labour condition. The non-farm payroll
report incorporated by the Employment Claims helps investors gauge,
whether the present standing of the country's economy is going to
pose problems in the future. The government, for their part, can
develop policies and programs that may be able to improve the
labour situation, and help them predict the future movements of
business cycles in order to respond to them better.
The Employment Claims Report has the ability to
influence market movements. It can also affect a wide variety of
these markets like the bond market, the stock market and the
currency market. As the report details figures and facts related to
the overall labour condition, trends in wage and employment can be
seen. This gives the government the chance to anticipate wage
inflation - and consequently, implement policies that would help
the economy deal with future economic series in a more beneficial
way.