Recent Updates
- Germany: Turnover in Hotels and Restaurants (Aug)
- Finland: Bankruptcy Filings (Sep)
- Estonia: Nonresidential Permits and Construction, Dwelling Permits & Completions (Q3), Motor Vehicle Registrations (Sep)
- Japan: Visitor Arrivals (Sep-Prelim), Construction Works Put in Place (Aug); Russia: Deposits of Individuals (Aug)
- Singapore: International Trade, Trade by Country and Commodity SITC (Sep); Korea: Money Supply, Credit to Households (Aug)
- Australia: Leading Indicator of Employment (Oct), Overseas
- more updates...
Economy in Brief
U.S. Home Builder Index Improves, but Remains Below Last Year's High
The Composite Housing Market Index from the NAHB-Wells Fargo inched up during October to 68 from an unrevised 67 in September...
U.S. JOLTS: Job Openings Rate Hits Another Record
The Bureau of Labor Statistics reported that the total job openings rate rose to a record 4.6% in August...
U.S. Gasoline and Crude Oil Prices Ease; Natural Gas Prices Increase
Gasoline prices slipped to an average $2.88 per gallon last week (+15.7% y/y)...
Macroeconomic Assessments by ZEW Experts Continue to Sink
Financial experts responding in the ZEW economic survey found current conditions weaker just about across the board...
U.S. Retail Sales Post Disappointing Increase
Total retail sales improved 0.1% (4.7% y/y) during September...
by Tom Moeller May 5, 2005
Initial claims for unemployment insurance rose further last week. The 11,000 increase to 333,000 followed an upwardly revised gain of 23,000 the week prior. Consensus expectations had been for 325,000 claims.
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 nevertheless fell to 321,500 (-6.9% y/y).
Continuing claims for unemployment insurance gained back 38,000 of a deepened 80,000 drop the prior week.
The insured unemployment rate held at 2.0%.
| Unemployment Insurance (000s) | 04/30/05 | 04/23/05 | Y/Y | 2004 | 2003 | 2002 |
|---|---|---|---|---|---|---|
| Initial Claims | 333 | 322 | 1.2% | 343 | 402 | 404 |
| Continuing Claims | -- | 2,589 | -11.7% | 2,926 | 3,531 | 3,570 |
