- Japan: **Japan Tokyo employment index rebased to 2015=100**
- Saudi Arabia: Non-Oil Foreign Trade (Feb); Kuwait: CPI (Mar); Tanzania: BOP, Trade, Depository Corporations Survey, Public Finance (Feb)
- Portugal: OMFIs Balance Sheet (Feb)
- Luxembourg: Employment and Unemployment (Mar)
- Kazakhstan: GDP by Income, Labor Productivity Index (Q4), Loans and Deposits, Monetary Aggregates, Banking System Surveys, Public Finance (Mar)
- more updates...
Economy in Brief
Fresh Six-Year PMI Highs for Euro Area
The 'fresh six-year high' is a pleasant surprise that continues, but...
Philadelphia Fed Factory Conditions Soften
The Philadelphia Fed reported that its General Factory Sector Business Conditions Index fell to 22.0 during April...
U.S. Leading Economic Indicators Suggest Continued Expansion
The Conference Board's Composite Index of Leading Economic Indicators increased 0.4% (3.5% y/y) during March...
U.S. Initial Unemployment Insurance Applications Increase
Initial unemployment claims for unemployment insurance rose to 244,000 during the week ended April 15 (-5.1% y/y)...
Japan's 'Trade Trends' Stabilize on an Unstable Foundation
Japan trade trends, broadly considered, seem to be stabilizing...
U.S. Mortgage Loan Applications Fall
The MBA total Mortgage Applications Volume Index declined 1.8% last week (-24.9% y/y)...
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||