- Korea: GDP (Q4); Thailand Auto Sales (Feb)
- Turkey: Capacity Utilization, Business Tendency survey (Mar); South Africa: Tourism & Migration (Jan), Manufacturing Survey (Q1)
- Croatia: Tourism (Jan); Montenegro: Foreign Trade (Feb); Czech Republic: CPI by COICOP (Feb), Registered Employment (Q4); Kazakhstan: Loans & Deposits (Feb); Slovenia: Business Cycle Indicators (Mar); Russia: Employment by Industry (Q4);
- more updates...
Economy in Brief
Texas Factory Sector Activity Remains Strong
The Dallas Fed indicated in its Texas Manufacturing Outlook Survey that the General Business Activity Index eased during March...
EMU Money and Credit Growth Are Less Than Impressive Than Euro-PMIs
EMU nominal money supply growth is slightly higher over three months, but credit growth in the EMU is slower...
Durable Goods Orders Strengthened by Another Jump in Aircraft
New orders for durable goods rose 1.7% (5.0% y/y) during February...
Correction to Unemployment Insurance Weekly Claims
The Department of Labor has issued a correction to yesterday's annual revision to seasonally adjusted weekly unemployment claims...
EMU PMIs Are Off to the Races...Farewell Mediocrity?
The PMI rankings for the manufacturing and service sector PMIs in the EMU are suddenly off the chart...
U.S. New Home Sales Improve While Prices Decline
Sales of new single-family homes increased 6.1% (12.8% y/y) during February to 592,000 units (AR)...
by Tom Moeller May 5, 2016
Labor market improvement stuttered again last week. Initial claims for jobless insurance increased to 274,000 (3.0% y/y) during the week ended April 30, after rising to an unrevised 257,000 in the prior week. It was the highest level of claims since the end of March. Expectations were for 256,000 applications in the Action Economics Forecast Survey. The four-week moving average of claims rose to 258,000, but remained near the lowest level since 1973. During the last ten years, there has been a 74% correlation between the level of claims and the m/m change in payroll employment.
In the week ending April 23, continuing claims for unemployment insurance eased to 2.121 million (-5.0% y/y) from 2.129 million. The four-week moving average fell to 2.140 million, the lowest level since November 2000.
The insured rate of unemployment declined to 1.5%, a new low for the economic recovery.
Insured rates of unemployment across states continued to vary. Near the low end of the range were South Dakota (0.41%), Florida (0.61%), North Carolina (0.63%), South Carolina (0.74%), Tennessee (0.78%) and Virginia (0.82%). At the high end of the scale were Rhode Island (2.09%), Massachusetts (2.15%), Illinois (2.20%), Pennsylvania (2.44%), Connecticut (2.48%) and New Jersey (2.60%). The state 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.
The Yield Curve and Predicted GDP Growth, March 2016 from the Federal Reserve Bank of Cleveland is available here.
|Unemployment Insurance (000s)||04/30/16||04/23/16||04/16/16||Y/Y||2015||2014||2013|
|Insured Unemployment Rate (%)||--||1.5||1.6||