Recent Updates
- Global Supply Chain Pressure Index (Mar, Apr)
- US: Job Openings and Labor Turnover Survey by State (Mar)
- US: New Residential Construction (Apr)
- Canada: CPI (Apr)
- Japan: NCI Economic Activity Index (May)
- more updates...
Economy in Brief
U.S. Mortgage Applications Continued to Slide Amid Higher Rates
The biggest declines have been in refinancing activity, while applications for purchase are just starting to crack...
UK Inflation Jumps
Inflation is at the highest rate since the series began in January of 1989...
U.S. Industrial Production Much Stronger than Expected in April
The increase in manufacturing output in April was once again led by motor vehicle and parts production...
U.S. Retail Sales Posted Solid Rise in April
Notwithstanding falling real incomes and declining confidence measures, consumer spending posted a solid increase...
U.S. Home Builder Index Took a Steep Drop in May
This is the fifth straight month that builder sentiment has declined...
Viewpoints
Commentaries are the opinions of the author and do not reflect the views of Haver Analytics.
The Many Links of Inflation Cycle: Hard Landing Is Needed to Crack Them
Peak Inflation & Fed Policy: A Relationship Which Should Worry The Fed And Scare Investors
Why Have the Yields on TIPS Been Negative in the Past Two Years?
"Core" GDP Suggests Economy Gained Momentum in Q1:2022
by Tom Moeller June 13, 2019
Initial unemployment insurance claims rose to 222,000 in the week ending June 8 from 219,000 during the prior week, revised from 218,000. Claims remained near their lowest level since December 1969. The latest reading compared to expectations for 217,000 claims in the Action Economics Forecast Survey. The four-week moving average of initial claims rose to 217,750 from 215,250 in the previous week. During the last 20 years, there has been a 70% correlation between the level of initial claims and the m/m change in nonfarm payrolls.
Continuing claims for unemployment insurance gained to 1.695 million from 1.693 million in the week ending June 1. The four-week moving average of claimants declined 1,000 to 1.673 million, the lowest level since November 1973.
The insured rate of unemployment remained at the record low of 1.2% in the week ending June 1, where it's been for twelve months. The series dates back to 1970.
Insured rates of unemployment vary widely by state. In the week ending May 25, the lowest rates were in South Dakota (0.27%), Nebraska (0.35%), Florida (0.41%), North Carolina (0.44%), Indiana (0.44%) and North Dakota (0.44%). The highest rates were in Massachusetts (1.41%), Pennsylvania (1.60%), Connecticut (1.72%), California (1.86%), New Jersey (1.90%) and Alaska (2.04%). Among the other largest states by population, the rate was 0.95% in Texas, 1.21% in New York and 1.42% in Illinois. These state data are not seasonally adjusted.
Data on weekly unemployment claims going back to 1967 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 in the AS1REPNA database.
Unemployment Insurance (SA, 000s) | 06/08/19 | 06/01/19 | 05/25/19 | Y/Y % | 2018 | 2017 | 2016 |
---|---|---|---|---|---|---|---|
Initial Claims | 222 | 219 | 218 | 1.4 | 220 | 244 | 262 |
Continuing Claims | -- | 1,695 | 1,693 | -1.6 | 1,756 | 1,961 | 2,135 |
Insured Unemployment Rate (%) | -- | 1.2 | 1.2 |
1.2 |
1.2 | 1.4 | 1.6 |