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Economy in Brief

U.S. Initial Claims for Jobless Insurance Rise
by Tom Moeller  September 25, 2014

Initial unemployment insurance claims rebounded to 293,000 (-7.3% y/y) during the week ended September 20 from 281,000 in the prior week, revised from 280,000. The Action Economics Forecast Survey expected 300,000 claims in the latest week. The four-week moving average of initial claims slipped to 298,500, its lowest level since early last month.

Continuing claims for unemployment insurance in the week ended September 13 edged higher to 2.439 million (-14.3% y/y) but remained near the lowest level since May 2007. The four-week moving average fell to 2.460 million. The insured rate of unemployment held at 1.8% for a second week, the lowest level also since May 2007.

By state in the week ended September 6, the insured rate of unemployment continued to vary greatly with North Dakota (0.33%), Indiana (0.85%), Virginia (0.93%), Louisiana (1.10%), Georgia (1.15%) and Florida (1.23%) at the low end of the range. At the high end were New York (2.03%), Massachusetts (2.17%), Pennsylvania (2.33%), California (2.41%), Alaska (2.89%) and New Jersey (3.25%). 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.

Unemployment Insurance (000s) 09/20/14 09/13/14 09/06/14 Y/Y % 2013 2012 2011
Initial Claims 293 281 316 -7.3 343 375 409
Continuing Claims -- 2,439 2,432 -14.3 2,977 3,319 3,742
Insured Unemployment Rate (%) -- 1.8 1.8 2.2
(9/13)
2.3 2.6 3.0
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