- China: Industrial Profits (Mar); Philippines: Tourist Arrivals (Feb); Korea: GDP (Q1)
- New Zealand: Tourism Expenditure, International Reserves, RBNZ Analytical Accounts and Statistical Balance Sheet (Mar); Australia: Import and Export Price Indexes (Q1)
- Japan: Input Output Prices, International Trade, Lease Contracts (Mar), First 10 Days Trade (Apr)
- France: INSEE Household Survey (Apr), Registered Unemployed & Job
- more updates...
Economy in Brief
U.S. Gasoline Prices Are Little-Changed; Crude Oil Falls
Regular gasoline prices of $2.45 per gallon last week (13.3% y/y)...
Japan's METI Indexes Show Ongoing Gains
The services sector is assessed by the METI indexes where it is named the 'tertiary sector.' That sector index rose to 104.1 in February...
U.S. New Home Sales & Prices Strengthen
Sales of new single-family homes increased 5.8% (15.6% y/y) during March to 621,000...
U.S. Consumer Confidence Backpedals
The Conference Board Consumer Confidence Index fell 3.7% during April (+27.0% y/y) to 120.3...
U.S. FHFA House Price Index Regains Strength
The FHFA U.S. house prices increased 0.8% during February (6.5% y/y)...
French Manufacturing and Service Sectors Weaken But Stay on Trend or Hold Recent Gains
The French manufacturing sector trend index is down to 1 in April from 3 in March...
by Tom Moeller March 2, 2017
Initial unemployment insurance claims declined to 223,000 during the week ended February 25 from 242,000 claims in the week prior, revised from 244,000. The latest level was the lowest since March 1973. Expectations had been for 245,000 claims in the Action Economics Forecast Survey. The four-week moving average of claims declined to 244,250. 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 in the week ended February 18 increased to 2.066 million (-7.4% y/y) from 2.063 million. The four-week moving average of claimants nudged up to 2.071 million. Continuing claims have been near the June 2000 low for several months.
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 11, the lowest rates were in Florida (0.54%), North Carolina (0.65%), Tennessee (0.81%), Virginia (0.84%), South Carolina (0.85%) and Nebraska (0.90%). The highest rates were found in California (2.65%), Pennsylvania (2.88%), Connecticut (2.95%), New Jersey (3.17%), Montana (3.13%) and Alaska (4.44%). 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.
Transitions in the Outlook and Monetary Policy from Fed Governor Lael Brainard can be found here.
|Unemployment Insurance (SA, 000s)||02/25/17||02/18/17||02/11/17||Y/Y %||2016||2015||2014|
|Insured Unemployment Rate (%)||--||1.5||1.5||