- 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 August 18, 2016
The labor market remains firm. Initial unemployment insurance claims fell to 262,000 (-5.8% y/y) during the week ended August 13 following unrevised claims of 266,000 in the prior week. Claims remained near the lowest level since 1973. The four-week moving average rose to 265,250, its highest level since late-June. The Action Economics Forecast Survey expected 265,000 claims in the latest week.
The latest figure covers to survey week for August nonfarm payrolls, and there was a 10,000 rise (4.0%) versus the July survey week. During the last ten years, there has been a 75% correlation between the level of claims and the m/m change in nonfarm payrolls.
Continuing claims for jobless benefits increased to 2.175 million (-3.8% y/y) during the week ended August 6, from 2.160 million in the prior week. The four-week moving average rose to 2.155 million, also near a four-decade low.
The insured rate of unemployment remained at 1.6%, near the lowest level since 2000.
Insured rates of unemployment continued to vary across states. Near the low end of the range were South Dakota (0.35%), North Carolina (0.67%), Florida (0.73%), New Hampshire (0.78%), Virginia (0.82%) and Maine (0.87%). At the high end of the scale were Texas (1.64%), New Mexico (1.74%), Massachusetts (1.87%), Pennsylvania (2.49%), Alaska (2.59%) and New Jersey (2.73%). 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)||08/13/16||08/06/16||07/30/16||Y/Y||2015||2014||2013|
|Insured Unemployment Rate (%)||--||1.6||1.6||