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Economy in Brief
French Retail Sales Rebound In June But Do Not Convince
French retail sales rebounded in June after falling for two consecutive months...
U.S. CPI Increase Moderates; Core Price Gain Steadies
Inflationary pressures moderated last month...
U.S. Government Budget Deficit Widens This Year
The U.S. Treasury Department reported that during the first nine months of fiscal year 2018, the federal government budget deficit totaled $607.1 billion...
U.S. Initial Unemployment Insurance Claims Fall
Initial claims for unemployment insurance dropped to 214,000 during the week ended July 7...
EMU IP Makes Strong May Gain
EMU industrial output expands in all sectors in May...
by Tom Moeller November 8, 2012
Continuing claims in the week ended October 27 also were depressed to 3.127M (-14.2% y/y). The insured rate of unemployment fell to 2.4%. This particular count covers only "regular" programs and does not include all extended benefit and other specialized jobless insurance programs. In the week of October 20, the latest figure available, the grand total of all benefit recipients rose slightly w/w to 5.077M. The latest was down by one-quarter y/y and was off by more than one-half since the peak in January 2010.
By state, the insured unemployment rate continued to vary greatly with Virginia (1.24%), Indiana (1.52%), Texas (1.53%), Ohio (1.56%), Tennessee (1.64%), Louisiana (1.68%), Florida (1.81%) and Michigan (2.13%) at the low end of the range. At the high end were Massachusetts (2.49%), Illinois (2.54%), New York (2.62%), Nevada (2.71%), Connecticut (2.99%), New Jersey (3.12%), California (3.18%) and Pennsylvania (3.21%).
Data on weekly unemployment insurance programs are contained in Haver's WEEKLY database, including the seasonal factor series, and they are summarized monthly in USECON. Data for individual states, including the unemployment rates that determine individual state eligibility for the extended benefits programs and specific "tiers" of the emergency program, are in REGIONW, a database of weekly data for states and various regional divisions. Action Economics consensus survey estimates are in AS1REPNA.
Estimated Rules for Monetary Policy from the Federal Reserve Bank of St. Louis is available here.
| Unemployment Insurance (000s) | 11/03/12 | 10/27/12 | 10/20/12 | Y/Y% | 2011 | 2010 | 2009 |
|---|---|---|---|---|---|---|---|
| Initial Claims | 355 | 363 | 372 | -8.5 | 409 | 459 | 574 |
| Continuing Claims | -- | 3,127 | 3,262 | -14.2 | 3,745 | 4,544 | 5,807 |
| Insured Unemployment Rate (%) | -- | 2.4 | 2.5 | 2.9 (10/11) |
3.0 | 3.6 | 4.4 |
| Total "All Programs" (NSA) | -- | -- | 5.077M | -25.7 | 7.750M | 9.850M | 9.163M |
