Recent Updates
- Euro area: CSPP Holdings Detail (Q1)
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Economy in Brief
U.S. Housing Affordability Fell Back in February, but Still in Recent Range
The NAR U.S. Fixed Rate Mortgage Housing Affordability Index decreased 7.6% (-1.4% y/y) in February to 173.1...
European New Car Registrations Remarkably Strong Yet Forgettable
Car registrations are not going to be the only statistic that bears these dual and seemingly dueling characteristics...
U.S. Retail Sales Soar in March
Total retail sales including food service and drinking establishments increased 9.8% (27.7% y/y) during March...
U.S. Industrial Production Rebounded in March
Industrial production rebounded in March, rising 1.4% m/m (+1.0% y/y)...
U.S. Home Builder Index Edges Higher in April
The NAHB-Wells Fargo Composite Housing Market Index rose 1.2% to 83 during April...
Viewpoints
Commentaries are the opinions of the author and do not reflect the views of Haver Analytics.
by Tom Moeller March 12, 2015
Initial claims for unemployment insurance declined to 289,000 during the week ended March 7 from 325,000 in the prior week, revised from 320,000. The latest level was the lowest in three weeks. The four-week moving average of initial claims fell to 302,250. The Action Economics Forecast Survey expected 303,000 claims in the latest week. During the last ten years, there has been a 76% correlation between the level of claims and the m/m change in nonfarm payrolls.
Continuing claims for unemployment insurance in the week ended February 28 fell to 2.418 million after the prior week's modest rise to 2.423 million. The four-week moving average rose to 2.417 million, the highest level in five weeks.
The insured rate of unemployment remained at 1.8% for the ninth straight week.
By state, in the week ended February 21 the insured rate of unemployment continued to vary greatly with South Dakota (0.92%), South Carolina (1.03%), Georgia (1.11%), Louisiana (1.13%), Tennessee (1.15%) and Mississippi (1.24%) at the low end of the range. At the high end were Michigan (2.57%), Maine (2.67%), California (2.95%), Massachusetts (3.45%), Connecticut (3.54%) and New Jersey (3.77%). 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) | 03/07/15 | 02/28/15 | 02/21/15 | Y/Y % | 2014 | 2013 | 2012 |
---|---|---|---|---|---|---|---|
Initial Claims | 289 | 325 | 313 | -9.4 | 309 | 343 | 374 |
Continuing Claims | -- | 2,418 | 2,423 | -15.2 | 2,599 | 2,978 | 3,319 |
Insured Unemployment Rate (%) | -- | 1.8 | 1.8 | 2.2 (03/14) |
2.0 | 2.3 | 2.6 |