Recent Updates
- Global Supply Chain Pressure Index (Mar, Apr)
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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 Carol Stone, CBE February 13, 2020
Initial claims for unemployment insurance rose 2,000 to 205,000 (-11.3% y/y) during the week ended February 8 from 203,000 in the prior week, revised from 202,000. The Action Economics Forecast Survey expected 210,000 initial claims. The four-week moving average of initial claims was steady at 212,000, the lowest since late July 2019.
Continuing claims for unemployment insurance in the week ended February 1 dropped to 1.698 million (-2.7% y/y) from 1.759 million, which was revised from 1.751 million. The four-week moving average of claimants fell to 1.727 million, its lowest level in six weeks.
The insured rate of unemployment held steady at 1.2%, where it has been since mid-November.
Insured unemployment rates vary widely by state. During the week ending January 25, the lowest rates were in Florida (0.42%), North Carolina (0.51%), Virginia (0.60%), Nebraska (0.61%) and New Hampshire (0.62%). The highest rates were in Connecticut (2.52%), West Virginia (2.52%), Montana (2.54%), New Jersey (2.74%) and Alaska (3.12%). Among the other largest states by population, the rate was 1.15% in Texas, 1.77% in New York, 2.25% in California and 2.42% in Illinois. These state data are not seasonally adjusted.
Data on weekly unemployment claims dating 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 from the Action Economics Forecast Survey, carried in the AS1REPNA database.
Unemployment Insurance (SA, 000s) | 02/08/20 | 02/01/20 | 01/25/20 | Y/Y % | 2019 | 2018 | 2017 |
---|---|---|---|---|---|---|---|
Initial Claims | 205 | 203 | 217 | -11.3 | 218 | 220 | 244 |
Continuing Claims | -- | 1,698 | 1,759 | -2.7 | 1,701 | 1,756 | 1,961 |
Insured Unemployment Rate (%) | -- | 1.2 | 1.2 |
1.2 |
1.2 | 1.2 | 1.4 |