Recent Updates
- Thailand: Cassava Production by Province (2017)
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- US: Chicago Fed National Activity Index (Jun)
- Turkey: Consumer Confidence (Jul); Nigeria: CPI (Jun); South Africa: Tourism & Migration (May), Midyear Popoulation Estimate (2018), Government Bond Holdings (Jun); Lebanon: CPI (Jun); Mozambique: Bank Credit by Sector (May)
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Economy in Brief
FIBER: Industrial Commodity Prices Post Further Weakness
The FIBER Industrial Materials Price Index declined 3.7% last month...
German PPI Rises at Nine-Month High Pace
The German PPI gained 0.2% in June on the heels of a 0.6% rise in May...
U.S. Leading Economic Indicators Improve
The Conference Board's Composite Index of Leading Economic Indicators increased 0.5% (5.8% y/y) during June...
Philadelphia Fed Factory Conditions Recover; Prices Surge
The Philadelphia Fed reported that its General Factory Sector Business Conditions Index rebounded to 25.7 during July...
U.S. Initial Unemployment Insurance Claims Hit Lowest Since 1969
Initial claims for unemployment insurance dropped to 207,000 during the week ended July 14...
by Tom Moeller February 17, 2005
Initial claims for unemployment insurance inched down another 2,000 to 302,000 last week, the lowest level since late 2000. The prior week's figure was revised up slightly and Consensus expectations had been for 315,000 claims.
The latest figure covers the February survey period for nonfarm payrolls and initial claims were 16,000 (5.0%) lower than the prior month.
The four week moving average of initial claims fell to 311,750 (-13.5% y/y).
Continuing claims for unemployment insurance fell 14,000 following a downwardly revised gain of 40,000 the prior week.
During the last ten years there has been a (negative) 75% correlation between the level of initial claims for unemployment insurance and the monthly change in payroll employment. There has been a (negative) 66% correlation with the level of continuing claims.
The insured rate of unemployment fell to 2.1%, the lowest since 2001.
| Unemployment Insurance (000s) | 02/12/05 | 02/05/05 | Y/Y | 2004 | 2003 | 2002 |
|---|---|---|---|---|---|---|
| Initial Claims | 302 | 304 | -13.7% | 343 | 402 | 404 |
| Continuing Claims | -- | 2,717 | -15.9% | 2,926 | 3,531 | 3,570 |
