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Economy in Brief
U.S. CPI Unchanged in July with Drop in Energy Prices
Consumer prices were unchanged in July after an outsized 1.3% m/m jump in June...
U.S. Federal Government Budget Deficit Shrinks in July
The U.S. Treasury Department reported a federal budget deficit of $211.1 billion in July...
U.S. Mortgage Applications Rose Slightly in the Latest Week
Mortgage applications increased 0.2% (-62.9% y/y) from one week earlier...
German Inflation Rises
The German inflation rate as measured by the HICP accelerated to 8.4% in July...
U.S. Productivity Declines in Q2, Pushing Unit Labor Costs Higher
Nonfarm business sector productivity fell 4.6% (AR) during Q2'22...
Viewpoints
Commentaries are the opinions of the author and do not reflect the views of Haver Analytics.
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 |