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- Manufacturing Survey - Markit US (Flash - Mar), Composite and Services Survey - Markit US (Flash - Mar)
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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 April 13, 2017
Initial unemployment insurance claims slipped to 234,000 during the week ended April 8 (-9.3% y/y) from 235,000 in the prior week, revised from 234,000. It was the lowest level of claims in six weeks. Expectations had been for 245,000 claims in the Action Economics Forecast Survey. The four-week moving average fell to 247,250. 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 April 1 eased to 2.028 million (-6.9% y/y) from 2.035 million. The four-week moving average of claimants fell to 2.026 million, the lowest level since June 2000.
The insured unemployment rate held at 1.5% and remained near the record low.
Insured rates of unemployment across states continue to vary widely. For the week ended March 25, the lowest rates were in Florida (0.52%), North Carolina (0.54%), Tennessee (0.67%), Georgia (0.68%), South Carolina (0.69%) and Virginia (0.73%). The highest rates were found in Montana (2.37%), California (2.42%), Rhode Island (2.58%), Connecticut (2.82%), New Jersey (2.90%) and Alaska (3.66%). 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 Forecast Survey, carried in the AS1REPNA database.
|Unemployment Insurance (SA, 000s)||04/08/17||04/01/17||03/25/17||Y/Y %||2016||2015||2014|
|Insured Unemployment Rate (%)||--||1.5||1.5||