Recent Updates
- Germany: PPI (Feb)
- Estonia: PPI (Feb)
- Japan: Population Estimates (Mar), Government Bond Trading Volume by Category of Investors, Machine Tool Orders (Feb)
- China: Local Government Debt (Feb)
- Australia: Leading Indicator of Employment (Mar), ADI Property Exposures Statistics, Authorized Deposit-taking Institution Performance (Q4), WMI Leading Index of Economic Activity, Job Vacancy Report (Feb)
- more updates...
Economy in Brief
U.S. Gasoline & Crude Oil Prices Continue to Rise
Retail gasoline prices increased to $2.55 per gallon (-1.9% y/y)...
ZEW's Global Assessments Remain Weak
ZEW survey expectations curled higher this month but continued to stake out very weak readings...
U.S. Home Builder Sentiment Remains Improved
The NAHB-Wells Fargo Composite Housing Market Index held steady at 62 during March...
EMU Trade Surplus Expands on Weak Import Rise
In the EMU, both import and export gains were modest in January...
U.S. JOLTS: Job Openings Remain Abundant
The Bureau of Labor Statistics reported that the total job openings rate increased to 4.8% during January...
by Tom Moeller March 31, 2005
Initial claims for unemployment insurance rose 20,000 to 350,000 last week versus an upwardly revised level the prior week. Consensus expectations had been for 321,000 claims.
During the last ten years there has been a (negative) 74% 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 four week moving average of initial claims rose to 336,000 (-1.2% y/y).
Continuing claims for unemployment insurance dropped 66,000 from the prior week and the insured rate of unemployment remained at 2.1%.
| Unemployment Insurance (000s) | 03/26/05 | 03/19/05 | Y/Y | 2004 | 2003 | 2002 |
|---|---|---|---|---|---|---|
| Initial Claims | 350 | 330 | 1.4% | 343 | 402 | 404 |
| Continuing Claims | -- | 2,608 | -11.6% | 2,926 | 3,531 | 3,570 |
