Recent Updates
- Japan: NCI Economic Activity Index (Aug)
- US: NAHB/Wells Fargo Housing Market Index (Aug)
- Canada: Wholesale trade, MSIO (June)
- Pakistan: Foreign Currency Deposits and Utilization (JUL)
- US: Empire State Mfg Survey (Aug)
- more updates...
Economy in Brief
U.S. Housing Affordability Declines Further in June
The NAR Fixed Rate Mortgage Housing Affordability Index fell 3.6% in June...
EMU Output Makes Solid Gain in June
The European Monetary Union posted a 0.7% increase for industrial output in June...
U.S. Producer Prices Fall During July; Core Increase Weakens
The Producer Price Index for Final Demand fell 0.5% during July...
U.S. Unemployment Claims Continue on an Uptrend
Initial claims for unemployment insurance filed in the week ended August 6 rose 14,000 to 262,000...
RICS Survey Points to More U.K. Housing Sector Weakness
The survey of housing market conditions in the U.K. continues to show strength in prices versus weakness...
Viewpoints
Commentaries are the opinions of the author and do not reflect the views of Haver Analytics.
by Tom Moeller May 19, 2005
Following three weeks of increase, initial claims for unemployment insurance fell 20,000 last week to 321,000 and the prior period's gain was little revised. Consensus expectations had been for 330,000 claims.
The latest figure covers the survey period for May nonfarm payrolls and claims are up 22,000 (7.4%) from the April period.
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 rose to 329,750 (-2.6% y/y).
Continuing claims for unemployment insurance rose 5,000 and the prior week's gain was little revised.
The insured unemployment rate held at 2.0% for the fourth consecutive weeks.
This morning's speech titled Government-sponsored enterprises by Fed Chairman Alan Greenspan can be found here.
Unemployment Insurance (000s) | 05/14/05 | 05/07/05 | Y/Y | 2004 | 2003 | 2002 |
---|---|---|---|---|---|---|
Initial Claims | 321 | 341 | -8.0% | 343 | 402 | 404 |
Continuing Claims | -- | 2,601 | -11.7% | 2,926 | 3,531 | 3,570 |