Recent Updates
- ** Australia building activity and value of private construction have changed reference year from Q3:15-Q2:16 to Q3:16-Q2:17.**
- Turkey: House Sales to Foreigners by Nationalities (Dec)
- Denmark: Sales (Nov)
- Estonia: Population (2019-Prelim), Motor Vehicle Registrations (Dec)
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- Markit PMI: Composite Survey - Dubai (Dec)
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- more updates...
Economy in Brief
Delay in Release
of Data for Construction, MSIO, Intl Trade, Wholesale Trade, Monthly Treasury, Retail Sales, Business Sales & Inventories, and Housing Starts Due to Lapse in Federal Government Funding.
Empire State Manufacturing Activity Weakens Sharply
The Empire State Manufacturing Index of General Business Conditions declined to 3.9 in January...
U.S. Prices of Energy Products Are Mixed
Gasoline prices averaged a fairly steady $2.25 per gallon this past week (-12.1% y/y)...
EMU Trade Balance Stays Stubbornly Large
The EMU trade balance widened to 15.1 billion euros in November from 13.5 billion euros in October...
FIBER: Industrial Commodity Prices Exhibit Broad-based Weakness
The FIBER Industrial Materials Price Index has been weakening since late-June...
by Tom Moeller April 28, 2005
Initial unemployment insurance claims last week recovered 21,000 of the lessened 33,000 decline the prior period. The level of 320,000 equaled Consensus expectations.
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) 65% correlation with the level of continuing claims.
The four week moving average of initial claims fell sharply to 323,000 (-7.2% y/y).
Continuing claims for unemployment insurance dropped a sharp 76,000 to the lowest level since March of 2001.
The insured unemployment rate slipped to 2.0%.
| Unemployment Insurance (000s) | 04/23/05 | 04/16/05 | Y/Y | 2004 | 2003 | 2002 |
|---|---|---|---|---|---|---|
| Initial Claims | 320 | 299 | -5.9% | 343 | 402 | 404 |
| Continuing Claims | -- | 2,555 | -15.1% | 2,926 | 3,531 | 3,570 |
