Recent Updates
- Australia: PSI (May)
- Australia: PSI by State (May)
- Brunei: International Trade (Mar)
- US: Intl Trade with Revisions, Productivity & Costs (Apr)
- more updates...
Economy in Brief
U.S. Productivity and Unit Labor Costs Revised Up for Q1'20
Output per hour revised up on weaker hours worked...
State & Pandemic Assistance Continuing Claims Total 32.5 Million
Initial jobless claims decreased to a still extremely-elevated 1.877 million in the week ending May 30...
Euro Area Retail Sales Fall Again
Euro area retail sales fell sharply again, dropping by 11.7% in April...
U.S. ISM Nonmanufacturing Activity Index Rebounds in May
Service sector business improves moderately...
U.S. ADP Nonfarm Private Payroll Declines Moderate During May
Nonfarm private payrolls during May declined 2.760 million (-16.6% y/y)...
by Tom Moeller April 14, 2005
Initial claims for unemployment insurance fell last week by 10,000 to 330,000 versus an upwardly revised level the prior week. Consensus expectations had been for 330,000 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 very slightly to 338,000 (-1.7% y/y).
Continuing claims for unemployment insurance fell 22,000 following the 88,000 rise the prior week that was little revised.
The insured unemployment rate remained at 2.1%.
| Unemployment Insurance (000s) | 04/09/05 | 04/02/05 | Y/Y | 2004 | 2003 | 2002 |
|---|---|---|---|---|---|---|
| Initial Claims | 330 | 340 | -7.6% | 343 | 402 | 404 |
| Continuing Claims | -- | 2,664 | -10.9% | 2,926 | 3,531 | 3,570 |
