Global| Feb 13 2020U.S. Initial Claims for Unemployment Insurance Up Slightly
Summary
Initial claims for unemployment insurance rose 2,000 to 205,000 (-11.3% y/y) during the week ended February 8 from 203,000 in the prior week, revised from 202,000. The Action Economics Forecast Survey expected 210,000 initial claims. [...]
Initial claims for unemployment insurance rose 2,000 to 205,000 (-11.3% y/y) during the week ended February 8 from 203,000 in the prior week, revised from 202,000. The Action Economics Forecast Survey expected 210,000 initial claims. The four-week moving average of initial claims was steady at 212,000, the lowest since late July 2019.
Continuing claims for unemployment insurance in the week ended February 1 dropped to 1.698 million (-2.7% y/y) from 1.759 million, which was revised from 1.751 million. The four-week moving average of claimants fell to 1.727 million, its lowest level in six weeks.
The insured rate of unemployment held steady at 1.2%, where it has been since mid-November.
Insured unemployment rates vary widely by state. During the week ending January 25, the lowest rates were in Florida (0.42%), North Carolina (0.51%), Virginia (0.60%), Nebraska (0.61%) and New Hampshire (0.62%). The highest rates were in Connecticut (2.52%), West Virginia (2.52%), Montana (2.54%), New Jersey (2.74%) and Alaska (3.12%). Among the other largest states by population, the rate was 1.15% in Texas, 1.77% in New York, 2.25% in California and 2.42% in Illinois. These state data are not seasonally adjusted.
Data on weekly unemployment claims dating back to 1967 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) | 02/08/20 | 02/01/20 | 01/25/20 | Y/Y % | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|
| Initial Claims | 205 | 203 | 217 | -11.3 | 218 | 220 | 244 |
| Continuing Claims | -- | 1,698 | 1,759 | -2.7 | 1,701 | 1,756 | 1,961 |
| Insured Unemployment Rate (%) | -- | 1.2 | 1.2 |
1.2 |
1.2 | 1.2 | 1.4 |
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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