Global| Oct 18 2018U.S. Initial Claims for Unemployment Insurance Ease
Summary
Initial claims for unemployment insurance fell to 210,000 (-8.7% y/y) during the week ended October 13 from 215,000 in the prior week; the earlier figure was revised up 1,000. The latest report was in line with the Action Economics [...]
Initial claims for unemployment insurance fell to 210,000 (-8.7% y/y) during the week ended October 13 from 215,000 in the prior week; the earlier figure was revised up 1,000. The latest report was in line with the Action Economics Forecast Survey at 210,000. The four-week moving average of initial claims was 211,750, up from the prior week's 209,750. The October 13 amount is the smallest since December 6, 1969, when there were 202,000 initial claims; the smallest on record was 162,000 the week ended November 30, 1968. These data begin January 7, 1967.
In the week ending October 6, 2018, continuing claims for unemployment insurance fell 13,000 to 1.640 million (-13.8% y/y) from 1.653 million a week earlier; that earlier number was revised down by 7,000. The 1.640 million is the smallest weekly amount since August 4, 1973. The four-week moving average of claimants declined to 1,653,000. This is again, as it was the previous week, the lowest four-week average since August 18, 1973, when it was 1,646,750.
The insured rate of unemployment remained at its record low of 1.2%, where it's been since early May.
Insured rates of unemployment vary widely by state. During the week ended September 29, the lowest rates were in South Dakota (0.19%), North Dakota (0.30%), Nebraska (0.31%), Indiana (0.42%), and Florida (0.45%). The highest rates were in Pennsylvania (1.43%), Connecticut (1.58%), California (1.64%), Alaska (1.84%), and New Jersey (1.87%). Among other of the largest states by population, the rate was 1.14% in New York and 0.87% in Texas. These 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) | 10/13/18 | 10/06/18 | 09/29/18 | Y/Y % | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|
| Initial Claims | 210 | 215 | 207 | -8.7 | 245 | 262 | 278 |
| Continuing Claims | -- | 1,640 | 1,653 | -13.8 | 1,961 | 2,135 | 2,266 |
| Insured Unemployment Rate (%) | -- | 1.2 | 1.2 |
1.4 |
1.4 | 1.6 | 1.7 |
Carol Stone, CBE
AuthorMore in Author Profile »Carol Stone, CBE came to Haver Analytics in 2003 following more than 35 years as a financial market economist at major Wall Street financial institutions, most especially Merrill Lynch and Nomura Securities. She has broad experience in analysis and forecasting of flow-of-funds accounts, the federal budget and Federal Reserve operations. At Nomura Securites, among other duties, she developed various indicator forecasting tools and edited a daily global publication produced in London and New York for readers in Tokyo. At Haver Analytics, Carol is a member of the Research Department, aiding database managers with research and documentation efforts, as well as posting commentary on select economic reports. In addition, she conducts Ways-of-the-World, a blog on economic issues for an Episcopal-Church-affiliated website, The Geranium Farm. During her career, Carol served as an officer of the Money Marketeers and the Downtown Economists Club. She has a PhD from NYU's Stern School of Business. She lives in Brooklyn, New York, and has a weekend home on Long Island.
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