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Economy in Brief
Import and Export Prices Increase
Import prices rose 0.2% during November (-1.3% y/y)...
U.S. Business Inventories Rise While Sales Slip
Total business inventories increased 0.2% (3.1% y/y) during October...
Friday 13 of December 2019: An unlucky day for Japan’s Tankan
The manufacturing barometer, which is considered the bellwether of this index, fell to zero in Q4 2019 from 5 in Q3...
U.S. Financial Accounts Show Larger Government Borrowing, Somewhat Less Household Borrowing
Total borrowing in U.S. financial markets rose to $4,266 billion in Q3 2019...
U.S. Producer Prices Are Unexpectedly Tame; Core Prices Weaken
The Producer Price Index for final demand was unchanged during November (1.1% y/y)...
by Carol Stone, CBE September 27, 2018
Initial unemployment insurance applications rose to 214,000 (-17.1% y/y) during the week ended September 22 from 202,000 in the prior week, which was revised up by 1,000. A smaller increase to 206,000 was anticipated in the Action Economics Forecast Survey. The four-week moving average of initial claims was 206,250, almost equal to the previous week's 206,000. The latest individual week's rise may be related to the resumption of business activity in the states impacted by Hurricane Florence, for the simple fact that the closure of Labor Department offices during the storm had prevented people from filing during the prior week.
In the week ending September 15, continuing claims for unemployment insurance rose 16,000 to 1.661 million (-13.6% y/y) from 1.645 million a week earlier; that earlier number was unrevised. The four-week moving average of claimants declined to 1.679 million. This is the lowest four-week average since November 10, 1973 -- almost 45 years -- when it was 1.673 million.
The insured rate of unemployment remained at its record low of 1.2%, where it's been since early May.
Insured rates of unemployment varied widely by state. During the week ended September 8, the lowest rates were in South Dakota (0.19%), Nebraska (0.35%), North Dakota (0.35%), Indiana (0.43%), North Carolina (0.43%) and Utah (0.46%). The highest rates were in Pennsylvania (1.63%), Connecticut (1.67%), California (1.71%), Alaska (1.72%), and New Jersey (2.16%). Among other of the largest states by population, the rate was 1.30% in New York, 0.96% in Texas and 0.49% in Florida. These state 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 Forecast Survey, carried in the AS1REPNA database.
Unemployment Insurance (SA, 000s) | 09/22/18 | 09/15/18 | 09/08/18 | Y/Y % | 2017 | 2016 | 2015 |
---|---|---|---|---|---|---|---|
Initial Claims | 214 | 202 | 204 | -17.1 | 245 | 262 | 278 |
Continuing Claims | -- | 1,661 | 1,645 | -13.6 | 1,961 | 2,135 | 2,266 |
Insured Unemployment Rate (%) | -- | 1.2 | 1.2 |
1.4 |
1.4 | 1.6 | 1.7 |