- Japan: First Ten Days Trade (Mar), International Trade, Foreign Banks Foreign Banks in Japan (Feb)
- New Zealand: Tourism Expenditure, International Reserves, RBNZ Analytical Accounts/Statistical Balance Sheet, Foreign Currency Assets, Liabilities, and Currency Flows (Feb); Australia: Flow of Funds (Q4), Job Vacancies (Q1)
- Korea: Building Permits (Feb); Philippines: LFS (Q3)
- US: IIP (Q4)
- more updates...
Economy in Brief
U.S. Mortgage Loan Applications Remain Little Changed; Variable Rate Apps Surge
The MBA total Mortgage Market Volume Index slipped 0.8% last week (-12.4% y/y)...
La Dolce Vita? Italian Confidence Bumps Higher
Italian business and consumer confidence moved higher in March...
U.S. Consumer Confidence Improves Significantly
The Conference Board Consumer Confidence Index for March strengthened 8.2% (30.7% y/y) to 125.6...
U.S. Energy Product Prices Remain Under Pressure
Regular gasoline prices held steady at $2.32 per gallon last week (12.1% y/y) for the third straight week...
German Federal Debt Levels Fall
German debt level fell outright in Q4 2016 as the ratio of federal debt-to-GDP also fell...
NABE 2018 Forecast: Modest Improvement in Economic Growth & Higher Inflation
The NABE expects 2.5% real U.S. economic growth in 2018 compared to 2.3% forecast for 2017...
by Tom Moeller June 9, 2016
Initial claims for jobless insurance fell to 264,000 (-15.6% y/y) during the week ended June 4 versus 268,000 claims in the prior week, revised from 267,000. Despite the weekly decline, the average of claims in May were 6.7% above April. The Action Economics Forecast Survey expected 270,000 claims. The four-week moving average of claims fell to 269,500. 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 28, continuing claims for unemployment insurance declined to 2.095 million (-8.1% y/y) from 2.172 million. The four-week moving average eased to 2.145 million.
The insured rate of unemployment fell to 1.5%, a record low.
Insured rates of unemployment across states continued to vary. Near the low end of the range were Nebraska (0.50%), Florida (0.60%), Tennessee (0.70%), South Carolina (0.76%), Georgia (0.80%) and Virginia (0.80%). At the high end of the scale were Rhode Island (1.80%), Massachusetts (1.90%), Illinois (1.90%), Pennsylvania (2.20%), New Jersey (2.30%) and Puerto Rico (2.40%). 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.
Is There Still Slack in the Labor Market? from the Federal Reserve Bank of Chicago can be found here.
|Unemployment Insurance (000s)||06/04/16||05/28/16||05/21/16||Y/Y||2015||2014||2013|
|Insured Unemployment Rate (%)||--||1.5||1.6||