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Economy in Brief
U.S. Industrial Production Rebounds
Industrial production jumped a greater-than-expected 0.6% (3.9% year-on-year) during November...
U.S. Business Inventory Accumulation Picks Up
Total business inventories increased 0.6% (5.1% y/y) during October...
U.S. Import Prices Weaken As Petroleum Prices Fall; Export Prices Also Decline
Import prices fell 1.6% (+0.7% y/y) during November following an unrevised 0.5% October rise...
U.S. Government Budget Deficit Surges Unexpectedly
The U.S. Treasury Department reported that the federal government ran a $204.9 billion budget deficit during November...
U.S. Initial Unemployment Insurance Claims Decline
Initial claims for unemployment insurance fell to 206,000 (-7.6% y/y) during the week ended December 8...
by Tom Moeller Jobless Insurance Claims Down Further July 19, 2007
Initial unemployment insurance claims fell another 8,000 last week to 301,000 after a little revised 12,000 drop the prior week to the lowest level since May.
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 latest figure is for the survey week for July payrolls and claims fell 25,000 (7.7 %) from the June period.
The four-week moving average of initial claims fell to 312,000 (-1.1% y/y).
Continuing claims for unemployment insurance rose 20,000 after a 77,000 increase during the prior week.
The insured rate of unemployment was stable at a revised 1.9%.
| Unemployment Insurance (000s) | 07/14/07 | 07/12/07 | Y/Y | 2006 |
|---|---|---|---|---|
| Initial Claims | 301 | 309 | -2.9% | 313 |
| Continuing Claims | -- | 2,571 | 3.2% | 2,459 |
