- US: Advance Durable Goods, Advance Trade & Inventories (Mar)
- Brazil: PPI (Mar); Mexico: Compensation and Productivity (Feb)
- Canada: Payroll Employment, Earnings, & Hours (Feb)
- Spain: Advanced HICP & CPI, Construction Business Survey Press (Apr)
- Belgium: CPI (Apr)
- Germany: GfK Consumer Climate Survey, State CPI: Bavaria, Saxony, Berlin, Hesse, North Rhine-Westphalia, Brandenburg (Apr)
- Building Permits (Feb)
- UK: Motor Vehicle Production (Mar)
- more updates...
Economy in Brief
U.S. Gasoline Prices Are Little-Changed; Crude Oil Falls
Regular gasoline prices of $2.45 per gallon last week (13.3% y/y)...
Japan's METI Indexes Show Ongoing Gains
The services sector is assessed by the METI indexes where it is named the 'tertiary sector.' That sector index rose to 104.1 in February...
U.S. New Home Sales & Prices Strengthen
Sales of new single-family homes increased 5.8% (15.6% y/y) during March to 621,000...
U.S. Consumer Confidence Backpedals
The Conference Board Consumer Confidence Index fell 3.7% during April (+27.0% y/y) to 120.3...
U.S. FHFA House Price Index Regains Strength
The FHFA U.S. house prices increased 0.8% during February (6.5% y/y)...
French Manufacturing and Service Sectors Weaken But Stay on Trend or Hold Recent Gains
The French manufacturing sector trend index is down to 1 in April from 3 in March...
by Tom Moeller June 2, 2016
Initial claims for unemployment insurance fell to 267,000, up 6.5% y/y, during the week ended May 28 versus an unrevised decline to 268,000 in the prior week. It was the third consecutive weekly shortfall, but it left the average so far in May above April. The Action Economics Forecast Survey expected 270,000 claims. The four week moving average of claims eased to 277,000, still near the highest point since early February. 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 May 21, continuing claims for unemployment insurance increased to 2.172 million (-2.1% y/y) from 2.160 million. The four-week moving average rose to 2.163 million, the highest level since early April.
The insured rate of unemployment remained at 1.6%, the lowest level since 2000.
Insured rates of unemployment across states continued to vary. Near the low end of the range were South Dakota (0.32%), Florida (0.60%), North Carolina (0.64%), Tennessee (0.66%), South Carolina (0.76%) and Virginia (0.81%). At the high end of the scale were Rhode Island (1.78%), Massachusetts (1.92%), Illinois (1.93%), Connecticut (2.14%), Pennsylvania (2.31%) and New Jersey (2.39%). 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.
|Unemployment Insurance (000s)||05/28/16||05/21/16||05/14/16||Y/Y||2015||2014||2013|
|Insured Unemployment Rate (%)||--||1.6%||1.6||