- US: GDP & Corporate Profits (Q4, 3rd release)
- Canada: Industrial Products & Raw Material Prices (Feb)
- Spain: Flash HICP and CPI, Construction Business Survey Press (Mar)
- Euro area: EC Business and Consumer Surveys (Mar)
- Belize: GDP (Q4)
- Chile: IP (Feb); Brazil: Retail Trade - Rebased 2014=100 (Jan)
- Croatia: Employment, Retail Trade Press (Feb), Earnings (Jan); Bulgaria: PPI (Feb); Montenegro: Wages (Feb); Latvia: Retail Trade (Jan); Lithuania: External Debt Service (Q4);
- more updates...
Economy in Brief
U.S. Initial Claims for Unemployment Insurance Ease
Initial jobless insurance applications fell to 258,000 (-3.1% y/y) during the week ended March 25...
U.S. Pending Home Sales Jump
The NAR reported that pending home sales increased 5.5% in February to an index level of 112.3...
U.S. Mortgage Loan Applications Remain Little Changed; Variable Rate Apps Surge
The MBA total Mortgage Market Volume Index slipped 0.8% last week (-12.4% y/y)...
La Dolce Vita? Italian Confidence Bumps Higher
Italian business and consumer confidence moved higher in March...
U.S. Consumer Confidence Improves Significantly
The Conference Board Consumer Confidence Index for March strengthened 8.2% (30.7% y/y) to 125.6...
U.S. Energy Product Prices Remain Under Pressure
Regular gasoline prices held steady at $2.32 per gallon last week (12.1% y/y) for the third straight week...
by Tom Moeller February 23, 2017
Initial claims for unemployment insurance increased to 244,000 (-7.6% y/y) during the week ended February 18 from 238,000 claims in the week prior, revised from 239,000. Expectations had been for 240,000 claims in the Action Economics Forecast Survey. The four-week moving average of claims declined to 241,000, the lowest level since July 1973.
The latest initial claims figure covers the survey period for February nonfarm payrolls, and there was a 7,000 increase in claims (3.0%) versus the January period. During the last ten years, there has been a 74% correlation between the level of initial claims and the m/m change in nonfarm payrolls.
Continuing claims for unemployment insurance declined to 2.060 million (-7.7% y/y) in the week of February 11 from 2.077 million. The four-week moving average of claimants declined to 2.070 million.
The insured rate of unemployment remained at 1.5%, which has been the average since September.
Insured rates of unemployment across states continue to vary widely. For the week ended February 4, the lowest rates were in Florida (0.55%), North Carolina (0.66%), Tennessee (0.82%), Virginia (0.83%), South Carolina (0.87%) and Nebraska (0.92%). The highest rates were found in California (2.59%), Pennsylvania (2.72%), Connecticut (2.86%), New Jersey (3.08%), Montana (3.10%) and Alaska (4.54%). 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 (SA, 000s)||02/18/17||02/11/17||02/04/17||Y/Y %||2016||2015||2014|
|Insured Unemployment Rate (%)||--||1.5||1.5||