- Italy: Labor Force Survey (Jun), CPI, HICP (Jul-Prelim)
- Euro area: Unemployment (Jun), HICP Flash (Jul)
- Hungary: Credit to Households and Nonfinancial Corporations (Jun); Armenia: Export and Import Prices, Nominal Wages (Jun); Lithuania: Capacity Utilization (Jul); Montenegro: Employment and Unemployment (Jun); Croatia: IP (Jun)
- Mauritius: PPI (Jun-Prelim); Turkey: Foreign Trade (Jun)
- Spain: Flash GDP (Q2), Pharmaceutical Spending (Jun)
- Finland: International Trade (May-Final); Denmark: Registered
- more updates...
Economy in Brief
Kansas City Federal Reserve Factory Sector Index Declines; Expectations Improve
The Kansas City Fed reported that regional manufacturing sector business activity deteriorated sharply during July...
Euro Area Sentiment Wanes as EMU Firms
The EU region saw its sentiment gauge drop to 104.8 in July from 105.7 in June...
FOMC Leaves Rate Unchanged
At today's FOMC meeting, the fed funds rate was left unchanged in the range of 0.25%-0.50%...
U.S. Durable Goods Orders Decline Is Led by Aircraft
New orders for durable goods fell 4.0% during June (-6.4% y/y)...
U.S. Pending Home Sales Improve Slightly
The National Association of Realtors (NAR) reported that pending home sales rose 0.2% (1.0% y/y) during June...
U.S. Mortgage Loan Applications Decline
The Mortgage Bankers Association reported that its total Mortgage Market Volume Index fell 11.2% (+43.8% y/y) last week...
by Tom Moeller July 28, 2016
Initial unemployment insurance claims increased to 266,000 (-1.1% y/y) during the week ended July 23 from 252,000 in the prior week, revised from 253,000. Claims remained near the lowest level since 1973. The four-week moving average eased to 256,500. The Action Economics Forecast Survey expected 260,000 claims in the latest week. During the last ten years, there has been a 75% correlation between the level of claims and the m/m change in nonfarm payrolls.
Continuing claims for jobless nudged higher to 2.139 million (-5.8% y/y) from 2.132 million. The four-week moving average declined to 2.135 million, also near a four-decade low.
The insured rate of unemployment ticked up to 1.6% from 1.5%.
Insured rates of unemployment continued to vary across states. Near the low end of the range were South Dakota (0.42%), Nebraska (0.58%), Florida (0.69%), North Carolina (0.69%), Indiana (0.77%) and Virginia (0.85%). At the high end of the scale were Texas (1.68%), Nevada (1.92%), Illinois (1.97%), Massachusetts (1.99%), Pennsylvania (2.49%) and New Jersey (2.78%). 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 survey, carried in the AS1REPNA database.
|Unemployment Insurance (000s)||07/23/16||07/16/16||07/09/16||Y/Y||2015||2014||2013|
|Insured Unemployment Rate (%)||--||1.6||1.5||