- Kazakhstan: GDP by Income, Labor Productivity Index (Q4), Loans & Deposits, Monetary Aggregates, Banking System Surveys (Mar)
- Japan: Index of Business Conditions (Feb-Final), Electric Power Generated (Jan)
- Spain: Services Sector Activity, New Orders and Turnovers (Feb)
- Finland: PPI, Domestic Supply Prices (Mar)
- US: NABE Business Conditions Survey (Q1)
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Economy in Brief
Fresh Six-Year PMI Highs for Euro Area
The 'fresh six-year high' is a pleasant surprise that continues, but...
Philadelphia Fed Factory Conditions Soften
The Philadelphia Fed reported that its General Factory Sector Business Conditions Index fell to 22.0 during April...
U.S. Leading Economic Indicators Suggest Continued Expansion
The Conference Board's Composite Index of Leading Economic Indicators increased 0.4% (3.5% y/y) during March...
U.S. Initial Unemployment Insurance Applications Increase
Initial unemployment claims for unemployment insurance rose to 244,000 during the week ended April 15 (-5.1% y/y)...
Japan's 'Trade Trends' Stabilize on an Unstable Foundation
Japan trade trends, broadly considered, seem to be stabilizing...
U.S. Mortgage Loan Applications Fall
The MBA total Mortgage Applications Volume Index declined 1.8% last week (-24.9% y/y)...
by Tom Moeller January 7, 2016
Initial claims for unemployment insurance rose to 277,000 (-7.8%y/y) in the week ended January 2 from an unrevised 287,000 the previous week. Consensus expectations in the Action Economics Forecast Survey looked for 275,000 applications. The four-week moving average eased to 275,750. Though up slightly from the October lows, these figures are close to the fewest claims in 15 years. During the last ten years, there has been a 75% correlation between the level of initial claims and the m/m change in payroll employment.
In the week ending December 26, continuing claims for unemployment insurance rose to 2.230 million (-10.6 y/y) from the previous week's 2.205 million. The four-week moving average rose to 2.218 million. These figures are slightly higher than the low in late October.
The insured rate of unemployment held at 1.6%, also the low 15-year low.
Insured rates of unemployment across states continued to vary. Near the low end of the range were Florida (0.58%), North Carolina (0.72%), Nebraska (0.76%), Georgia (0.82%), Virginia (0.83%), and Tennessee (0.91%). At the high end of the scale were Massachusetts (2.22%), Illinois (2.26%), Connecticut (2.33%), Pennsylvania (2.48%), New Jersey (2.65%), and Alaska (4.32%). The state data are not seasonally adjusted and reported with a two-week lag versus the headline national figure for initial claims. They cover the week ended December 19.
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)||01/02/15||12/26/15||12/19/15||Y/Y %||2015||2014||2013|
|Insured Unemployment Rate (%)||--||1.6||1.6||