- 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)
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Economy in Brief
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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 Sandy Batten September 8, 2016
Initial unemployment insurance claims edged down to 259,000 (-5.8% y/y) in the week ending September 3 from an unrevised 263,000 in the week ended August 27. The four-week moving average also eased to 261,250 from 263,000 (also unrevised) previously. The Action Economics Forecast Survey expected 262,000 claims in the latest week. During the last ten years, there has been a 75% correlation between the level of claims and the monthly change in nonfarm payrolls.
Continuing claims for jobless benefits fell to 2.144 million (-5.2% y/y) in the week ended August 27 from a downwardly revised 2.151 million in the prior week. The four-week moving average fell to 2.154 million, near a four-decade low.
The insured rate of unemployment held steady at 1.6%, near the lowest level since 2000.
Insured rates of unemployment across states continue to be quite disparate. The state data are not seasonally adjusted and are reported with a two-week lag. For the week ended August 20, the lowest rates were in South Dakota (0.33%), Nebraska (0.42%), North Carolina (0.64%), and Utah (0.64%). The highest rates were found in New Jersey (2.74%), Connecticut (2.71%), and Alaska (2.64%).
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)||09/3/2016||08/27/16||08/20/16||Y/Y %||2015||2014||2013|
|Insured Unemployment Rate (%)||--||1.6||1.6||