- New Zealand: International Trade (Feb)
- Korea: Consumer Survey Index (Mar); Philippines: Public Finance (Jan)
- Weekly: **Initial Claims Data Revisions Completed**
- Euro area: Flash Consumer Confidence Indicator (Mar)
- US: New Residential Sales (Feb)
- Belgium: Business Survey (Mar)
- Uruguay: GDP (Q4)
- more updates...
Economy in Brief
Kansas City Federal Reserve Factory Index Strengthens; Expectations Surge
The Kansas City Fed reported that its index of regional manufacturing sector business activity increased to 20 during March...
U.S. Initial Unemployment Insurance Claims Rise
Initial claims for unemployment insurance increased to 258,000 (-3.0% y/y) during the week ended March 18...
U.K. Retail Looks Less Bulletproof
For the most part, the assessments embodied in the March survey from the UK's CBI are being taken as being upbeat...
U.S. Existing Home Sales Fall to Five-Month Low; Inventory Remains Tight
Sales of existing single-family homes declined 3.7% (+5.4% y/y) to 5.480 million units (AR) during February...
U.S. FHFA House Price Index Momentum Diminishes
The FHFA U.S. house price index remained unchanged during January following a 0.4% December increase ...
Japan's Trade Trends Turn Sharply Higher
Japan has logged its largest current account surplus since April 2010...
by Tom Moeller July 21, 2016
Initial claims for unemployment insurance of 253,000 (-3.8% y/y) during the week ended July 16 compared to an unrevised 254,000 in the prior week. They remained near a record low. The Action Economics Forecast Survey expected 262,000 claims. The four-week moving average of claims ease to 257,750.
The latest claims figure covers the survey week for July nonfarm payrolls. Claims fell 5,000 (-1.9%) from the June period. 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 July 9, continuing claims for unemployment insurance fell to 2.128 million (-4.5% y/y) from 2.153 million. Continuing claims were near the lowest level since 2000. The four-week moving average eased to 2.141 million.
The insured rate of unemployment returned to the record low of 1.5%.
Insured rates of unemployment continued to vary across states. Near the low end of the range were South Dakota (0.36%), Nebraska (0.55%) Florida (0.66%), Indiana (0.75%), Virginia (0.81%) and Tennessee (0.89%). At the high end of the scale were Texas (1.60%), Nevada (1.84%), Massachusetts (1.95%), Illinois (1.92%), Pennsylvania (2.45%) and New Jersey (2.62%). 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)||07/16/16||07/09/16||07/02/16||Y/Y||2015||2014||2013|
|Insured Unemployment Rate (%)||--||1.5||1.6||