Global| Dec 24 2014U.S. Initial Claims for Unemployment Insurance Move Lower
by:Tom Moeller
|in:Economy in Brief
Summary
Initial unemployment insurance claims during the week ended December 20 fell to 280,000 (-17.4% y/y) after declining to an unrevised 289,000 in the prior week. It was the lowest level of claims in seven weeks. The four-week moving [...]
Initial unemployment insurance claims during the week ended December 20 fell to 280,000 (-17.4% y/y) after declining to an unrevised 289,000 in the prior week. It was the lowest level of claims in seven weeks. The four-week moving average of initial claims edged down 290,250, yet was up from 279,000 at the end of October. The Action Economics Forecast Survey expected 290,000 claims in the latest week.
Continuing claims for unemployment insurance in the week ended December 13 edged higher to 2.403 million (-17.8% y/y) from 2.378 million. The four-week moving average also notched higher to 2.418 million, the highest level since mid-September.
The insured rate of unemployment held at 1.8% where it has been since early-September.
By state, in the week ended December 6, the insured rate of unemployment continued to vary greatly with Nebraska (0.90%), Florida (0.90%), North Carolina (1.00%), New Hampshire (1.10%), Indiana (1.10%) and Texas (1.20%) at the low end of the range. At the high end were Wisconsin (2.30%), Massachusetts (2.40%), California (2.50%), Connecticut (2.60%), Pennsylvania (2.70%) and New Jersey (3.00%). These 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.
Global Aging: More Headwinds for U.S. Stocks? from the Federal Reserve Bank of San Francisco can be found here.
| Unemployment Insurance (000s) | 12/20/14 | 12/13/14 | 12/06/14 | Y/Y % | 2013 | 2012 | 2011 |
|---|---|---|---|---|---|---|---|
| Initial Claims | 280 | 289 | 295 | -17.4 | 343 | 375 | 409 |
| Continuing Claims | -- | 2,403 | 2,378 | -17.8 | 2,977 | 3,319 | 3,742 |
| Insured Unemployment Rate (%) | -- | 1.8 | 1.8 | 2.2 (12/13) |
2.3 | 2.6 | 3.0 |
Tom Moeller
AuthorMore in Author Profile »Prior to joining Haver Analytics in 2000, Mr. Moeller worked as the Economist at Chancellor Capital Management from 1985 to 1999. There, he developed comprehensive economic forecasts and interpreted economic data for equity and fixed income portfolio managers. Also at Chancellor, Mr. Moeller worked as an equity analyst and was responsible for researching and rating companies in the economically sensitive automobile and housing industries for investment in Chancellor’s equity portfolio. Prior to joining Chancellor, Mr. Moeller was an Economist at Citibank from 1979 to 1984. He also analyzed pricing behavior in the metals industry for the Council on Wage and Price Stability in Washington, D.C. In 1999, Mr. Moeller received the award for most accurate forecast from the Forecasters' Club of New York. From 1990 to 1992 he was President of the New York Association for Business Economists. Mr. Moeller earned an M.B.A. in Finance from Fordham University, where he graduated in 1987. He holds a Bachelor of Arts in Economics from George Washington University.
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