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Economy in Brief

U.S. Initial Claims for Jobless Insurance Move Higher
by Tom Moeller  September 11, 2014

Initial unemployment insurance claims rose to 315,000 during the week ended September 6 from 304,000 in the prior week, revised from 302,000. It was the highest level of claims since the last week of June. The Action Economics Forecast Survey expected 300,000 in the latest week. The four-week moving average of initial claims gained to 304,000, its highest level in eight weeks.

Continuing claims for unemployment insurance in the week ended August 30 notched up to 2.487 million (-12.6% y/y). The four-week moving average slipped to 2.499 million, the lowest level since June 2007. The insured rate of unemployment held at 1.9% for a ninth consecutive week.

By state in the week ended August 23, the insured rate of unemployment continued to vary greatly with Nebraska (0.70%), Indiana (0.87%), Kansas (1.14%), Louisiana (1.15%), Georgia (1.16%) and Kentucky (1.30%) at the low end of the range. At the high end were California (2.50%), Massachusetts (2.52%), Rhode Island (2.53%), Pennsylvania (2.64%), Connecticut (3.05%) and New Jersey (3.30%). These data are not seasonally adjusted.

Data on weekly unemployment insurance are contained in Haver's WEEKLY database and they are summarized monthly in USECON. Data for individual states are in REGIONW. The expectations figure is from the Action Economics survey, carried in the AS1REPNA database.

When and How Should the Fed Exit? from the Federal Reserve Bank of St. Louis is available here.

Unemployment Insurance (000s) 09/06/14 08/30/14 08/23/14 Y/Y % 2013 2012 2011
Initial Claims 315 304 298 2.6 343 375 409
Continuing Claims -- 2,487 2,478 -12.6 2,977 3,319 3,742
Insured Unemployment Rate (%) -- 1.9 1.9 2.3
(8/13)
2.3 2.6 3.0
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