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Economy in Brief
Philadelphia Fed Factory Conditions Plunge
The Philadelphia Fed reported that its General Factory Sector Business Conditions Index retreated to 19.9 during June...
U.S. FHFA House Price Index Improves Minimally
The FHFA U.S. house price index nudged 0.1% higher (6.4% y/y) during April...
U.S. Initial Unemployment Insurance Claims Down Slightly
Initial claims for unemployment insurance were 218,000 during the week ended June 16...
U.S. Existing Home Sales Decline While Prices Rise
The NAR U.S. existing home sales fell 0.4% (-3.0% y/y) during May to 5.430 million units (AR)...
U.S. Current Account Deficit Widens
The U.S. current account deficit rose to $124.1 billion during Q1 2018...
by Tom Moeller December 29, 2005
Initial claims for unemployment insurance fell 3,000 to 322,000 last week following a little revised 12,000 decline the prior week. Consensus expectations had been for 325,000 claims.
During the last ten year there has been a (negative) 75% correlation between the level of initial jobless insurance claims and the m/m change in payroll employment.
The four-week moving average of initial claims was little changed at 325,000 (-1.7% y/y).
Continuing unemployment insurance claims increased a sharp 85,000 following a 36,000 rise the prior week which was little different than initially reported.
The insured rate of unemployment remained at 2.1%.
International Capital Flows and U.S. Interest Rates from the Federal Reserve Board is available here.
| Unemployment Insurance (000s) | 12/24/05 | 12/17/05 | Y/Y | 2004 | 2003 | 2002 |
|---|---|---|---|---|---|---|
| Initial Claims | 322 | 319 | -0.6% | 343 | 402 | 404 |
| Continuing Claims | -- | 2,715 | -1.2% | 2,926 | 3,531 | 3,570 |
