- Ireland: Mortgage Approvals (Jan)
- Hungary: GDP (Q4), Intl Reserves (Feb); Kazakhstan: CPI (Feb); Estonia: CPI (Feb); Georgia: Central Bank Survey, Foreign Reserves (Feb); Slovakia: Employment (Q4); Romania: GDP, Dwellings (Q4)
- Turkey: Retail Sales (Jan); Mauritius: CPI, Foreign Res (Feb)
- Italy: PPI (Jan)
- Denmark: Industrial Production (Jan)
- Switzerland: CPI, HICP (Feb)
- more updates...
Economy in Brief
Challenger Job Cut Announcements Dip
The outplacement firm of Challenger, Gray & Christmas reported that job cut announcements during February slipped to 50,579 (+20.9% y/y)...
U.S. Factory Sector Orders Slip; Inventories Decline Again
New orders in the manufacturing sector slipped 0.2% (-2.3% y/y) following a little-revised 3.5% December decline...
U.S. Worker Productivity Decline is Deepened thus Raising Unit Labor Costs
Nonfarm productivity slipped at a 2.2% annual rate last quarter, revised from -1.8%...
Italian GDP Finalizes on Weak Trends
Italy continues to struggle...
U.S. ADP: Job Growth Slowed in February; Earlier Figures Revised Higher
The ADP/Moody's National Employment Report indicated that nonfarm private sector payrolls increased 212,000 last month (2.5% y/y)...
U.S. Mortgage Loan Applications and Interest Rates Are Roughly Unchanged
The Mortgage Bankers Association reported that their total Mortgage Market Volume Index ticked 0.1% higher last week (10.3% y/y)...
by Tom Moeller March 5, 2015
Initial unemployment insurance claims moved up 320,000 during the week ended February 28 from an unrevised 313,000 in the prior week. It was the highest level of claims since the middle of May 2014. The four-week moving average of initial claims moved up to 304,750, the highest level in six weeks. The Action Economics Forecast Survey expected 295,000 claims in the latest week. During the last ten years, there has been a 76% correlation between the level of claims and the m/m change in nonfarm payrolls.
Continuing claims for unemployment insurance in the week ended February 28 increased to 2.421 million and reversed the prior week's fall. The four-week moving average ticked up to 2.404 million.
The insured rate of unemployment held at 1.8% for the eighth straight week.
By state, in the week ended February 14 the insured rate of unemployment continued to vary greatly with South Dakota (0.92%), South Carolina (1.03%), Georgia (1.07%), Louisiana (1.12%), Nebraska (1.13% and Tennessee (1.15%) at the low end of the range. At the high end were Michigan (2.57%), Maine (2.64%), California (2.74%), Massachusetts (3.14%), Pennsylvania (3.33%) and Connecticut (3.44%). These data are not seasonally adjusted.
Data on weekly unemployment insurance are contained in Haver's WEEKLY database and they are summarized monthly in USECON. Data for individual states are in REGIONW. The expectations figure is from the Action Economics survey, carried in the AS1REPNA database.
|Unemployment Insurance (000s)||02/28/15||02/21/15||02/14/15||Y/Y %||2014||2013||2012|
|Insured Unemployment Rate (%)||--||1.8||1.8||2.2