Global| Nov 21 2018U.S. Initial Unemployment Claims Rise, Reach Highest Since June
Summary
Initial claims for unemployment insurance rose 3,000 in the week ended November 17 to 224,000 (-6.3% y/y); the prior week's initially reported 216,000 was revised upward by 5,000 to 221,000. The latest week's 224,000 is the highest [...]
Initial claims for unemployment insurance rose 3,000 in the week ended November 17 to 224,000 (-6.3% y/y); the prior week's initially reported 216,000 was revised upward by 5,000 to 221,000. The latest week's 224,000 is the highest since 232,000 at the very end of June. The Action Economics Forecast Survey expected 215,000 claims. The four-week moving average of initial claims is 218,500.
Continuing claims for unemployment insurance actually decreased slightly in the November 10 week to 1.668 million (-12.9% y/y) from 1.670 million in the prior week; that earlier figure was revised downward from 1.676 million. The four-week moving average of claimants climbed to 1.650 million from 1.642 million.
The insured rate of unemployment remained at 1.2%.
Insured rates of unemployment vary widely by state. Preliminary data for the week ending November 3 show that the lowest rates were in South Dakota (0.20%), North Dakota and Nebraska (0.30%), and North Carolina (0.40%), with Florida, Indiana, Kansas, New Hampshire, Tennessee, Utah and Virginia all at 0.50%. The highest rates were in Pennsylvania (1.50%), Connecticut (1.60%), California (1.70%), New Jersey (1.90%) and Alaska (2.50%). Among the other largest states by population, the rates were 1.20% in New York, 1.40% in Illinois, and 0.90% 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 by state are in REGIONW. The expectations figure is from the Action Economics Forecast Survey, carried in the AS1REPNA database.
| Unemployment Insurance (SA, 000s) | 11/17/18 | 11/10/18 | 11/03/18 | Y/Y % | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|
| Initial Claims | 224 | 221 | 214 | -6.3 | 245 | 263 | 278 |
| Continuing Claims | -- | 1,668 | 1,670 | -12.9 | 1,961 | 2,136 | 2,267 |
| 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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