- US: GDP & Corporate Profits (Q4, 3rd release)
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- Spain: Flash HICP and CPI, Construction Business Survey Press (Mar)
- Euro area: EC Business and Consumer Surveys (Mar)
- Belize: GDP (Q4)
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Economy in Brief
U.S. Initial Claims for Unemployment Insurance Ease
Initial jobless insurance applications fell to 258,000 (-3.1% y/y) during the week ended March 25...
U.S. Pending Home Sales Jump
The NAR reported that pending home sales increased 5.5% in February to an index level of 112.3...
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...
by Tom Moeller June 16, 2016
Initial unemployment insurance claims rose to 277,000 (3.1% y/y) during the week ended June 11 versus an unrevised 264,000 claims in the prior week. It was the first w/w increase since the first week of May. The Action Economics Forecast Survey expected 268,000 claims. The four-week moving average of claims was steady at 269,250. 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 June 4, continuing claims for unemployment insurance rose to 2.157 million (-3.6% y/y) from 2.112 million. Claims remained near the lowest level since 2000. The four-week moving average also was steady at 2.150 million.
The insured rate of unemployment rose to 1.6%, but remained near the record low.
Insured rates of unemployment across states continued to vary. Near the low end of the range were Nebraska (0.52%), Florida (0.61%), Tennessee (0.77%), Georgia (0.79%), South Carolina (0.80%) and Virginia (0.81%). At the high end of the scale were Rhode Island (1.74%), Massachusetts (1.89%), Illinois (1.88%), Pennsylvania (2.26%), New Jersey (2.27%) and Alaska (3.48%). 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)||06/11/16||06/04/16||05/28/16||Y/Y||2015||2014||2013|
|Insured Unemployment Rate (%)||--||1.6||1.5||