Recent Updates
- ** New Zealand's Jobs Online Report has been delayed by the source, MBIE, until 6:00 PM ET 4/26.**
- UK: RICS Commercial Market Survey (Q1) Mortgage and Consumer Lending, Average Precipitation (Mar)
- Markit PMI: Manufacturing Survey - Austria (Apr)
- Germany: GfK Consumer Climate Survey, BA-X Job Index (Apr)
- Spain: Mortgage Market, Labor Force Survey (Q1)
- Kyrgyz Republic: Foreign Trade (Feb), State Budget, Foreign Reserves (Mar); Russia: Buildings Put in Place (Q1); Bulgaria:
- more updates...
Economy in Brief
Japan Shows Very Moderate Growth As Trade War Clouds Gather
Japan’s sector indexes showed a solid gain in February...
U.S. Consumer Confidence Unexpectedly Rose in April
The Conference Board Consumer Confidence Index rose to 128.7 in April from 127.0 (initially reported as 127.7) in March...
U.S. New Home Sales and Prices Strengthen
Sales of new single-family homes during March increased 4.0% (8.8% y/y) to 694,000 (SAAR)...
U.S. FHFA House Price Index Continues to Strengthen
The FHFA index of U.S. house prices rose 0.6% during February...
U.S. Energy Prices Rise Further
Retail gasoline prices increased to $2.80 per gallon last week (14.3% y/y)...
by Tom Moeller January 25, 2007
Initial unemployment insurance claims jumped 36,000 to 325,000 last week and reversed all of the declines over the prior two weeks. Consensus expectations had been for a lesser increase to 310,000.
During the last ten years there has been a (negative) 77% correlation between the level of initial claims and the m/m change in nonfarm payroll employment.
The four-week moving average of initial claims increased modestly to 309,250 (7.1% y/y).
Continuing claims for unemployment insurance fell 39,000 and reversed part of the prior week's 113,000 surge.
The insured rate of unemployment remained at 1.9%, about where it's been since February.
The Budget & Economic Outlook: Fiscal Years 2007 to 2016 from the Congressional Budget Office can be found here.
Unemployment Insurance (000s) | 01/20/07 | 01/13/07 | Y/Y | 2006 | 2005 | 2004 |
---|---|---|---|---|---|---|
Initial Claims | 325 | 289 | 15.7% | 313 | 332 | 343 |
Continuing Claims | -- | 2,484 | -3.2% | 2,459 | 2,662 | 2,924 |