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Economy in Brief

U.S. Initial Claims for Jobless Insurance Jump; Unemployment Rate Falls to New Low
by Tom Moeller  November 26, 2014

Initial claims for jobless insurance during the week ended November 22 jumped to 313,000 from 292,000 during the prior period, revised from 291,000. The Action Economics Forecast Survey expected 285,000 claims in the latest week. The four-week moving average of initial claims moved higher to 294,000.

Continuing claims for unemployment insurance in the week ended November 15 fell to a new low of 2.316 million (-17.7% y/y). The four-week moving average declined to 2.352 million. The insured rate of unemployment fell to 1.7%, the lowest level 2000.

By state, in the week ended October 25, the insured rate of unemployment continued to vary greatly with Indiana (0.87%), New Hampshire (0.93%), Louisiana (1.03%), Ohio (1.11%), Texas (1.13%) and Arizona (1.24%) at the low end of the range. At the high end were Oregon (2.03%), Massachusetts (2.11%), Pennsylvania (2.16%), California (2.30%), Connecticut (2.33%) and New Jersey (2.82%). 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) 11/22/14 11/15/14 11/08/14 Y/Y % 2013 2012 2011
Initial Claims 313 292 293 -3.4 343 375 409
Continuing Claims -- 2,316 2,333 -17.7 2,977 3,319 3,742
Insured Unemployment Rate (%) -- 1.7 1.8 2.2
2.3 2.6 3.0
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