- US: Advance Trade & Inventories (Feb)
- Sweden: Retail Trade, PPI, International Trade (Feb); Iceland: CPI (Mar)
- Turkey: International Reserves (Feb); Mauritius: Wage Rate Index, LFS (Q4); Saudi Arabia: Non-Oil Foreign Trade (Jan); Palestine: BOP (Q4); UAE: Fuel Prices (Apr); Israel: Construction Starts & Completions (Q4); South Africa: Construction Survey (Q1); Tanzania: Trade (Q4)
- Brazil: PPI (Feb)
- more updates...
Economy in Brief
Texas Factory Sector Activity Remains Strong
The Dallas Fed indicated in its Texas Manufacturing Outlook Survey that the General Business Activity Index eased during March...
EMU Money and Credit Growth Are Less Than Impressive Than Euro-PMIs
EMU nominal money supply growth is slightly higher over three months, but credit growth in the EMU is slower...
Durable Goods Orders Strengthened by Another Jump in Aircraft
New orders for durable goods rose 1.7% (5.0% y/y) during February...
Correction to Unemployment Insurance Weekly Claims
The Department of Labor has issued a correction to yesterday's annual revision to seasonally adjusted weekly unemployment claims...
EMU PMIs Are Off to the Races...Farewell Mediocrity?
The PMI rankings for the manufacturing and service sector PMIs in the EMU are suddenly off the chart...
U.S. New Home Sales Improve While Prices Decline
Sales of new single-family homes increased 6.1% (12.8% y/y) during February to 592,000 units (AR)...
by Tom Moeller September 22, 2016
Initial claims for unemployment insurance declined to 252,000 (-7.0% y/y) in the week ending September 17 from an unrevised 260,000 in the prior week. The figure was near the lowest level since October 1973. The four-week moving average fell to 258,500. The Action Economics Forecast Survey expected 262,000 claims in the latest week.
The latest initial claims figure covers the survey week for September nonfarm payrolls, and claims fell 6,750 (2.5%) from the August period. 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 2.113 million (-5.8% y/y) in the week ended September 10. The four-week moving average fell to 2.140 million, near a four-decade low.
The insured rate of unemployment fell to 1.5%, and returned to the record low.
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 September 3, the lowest rates were in South Dakota (0.28%), Nebraska (0.42%), North Carolina (0.60%), Utah (0.61%), Maine (0.76%) and South Carolina (0.84%). The highest rates were found in Illinois (1.67%), Massachusetts (1.83%), Pennsylvania (2.07%), Connecticut (2.24%), Alaska (2.54%) and New Jersey (2.63%).
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)||09/17/16||09/10/16||09/3/16||Y/Y %||2015||2014||2013|
|Insured Unemployment Rate (%)||--||1.5||1.6||