- Japan: Index of Business Conditions (Feb-Final), Electric Power Generated (Jan)
- Spain: Services Sector Activity, New Orders and Turnovers (Feb)
- Finland: PPI, Domestic Supply Prices (Mar)
- US: NABE Business Conditions Survey (Q1)
- Indonesia: Non-Oil and Gas Trade (Feb); Taiwan: Labor Market (Mar)
- Egypt: IP (Feb)
- 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 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||