Global| Sep 11 2014U.S. Initial Claims for Jobless Insurance Move Higher
by:Tom Moeller
|in:Economy in Brief
Summary
Initial unemployment insurance claims rose to 315,000 during the week ended September 6 from 304,000 in the prior week, revised from 302,000. It was the highest level of claims since the last week of June. The Action Economics [...]
Initial unemployment insurance claims rose to 315,000 during the week ended September 6 from 304,000 in the prior week, revised from 302,000. It was the highest level of claims since the last week of June. The Action Economics Forecast Survey expected 300,000 in the latest week. The four-week moving average of initial claims gained to 304,000, its highest level in eight weeks.
Continuing claims for unemployment insurance in the week ended August 30 notched up to 2.487 million (-12.6% y/y). The four-week moving average slipped to 2.499 million, the lowest level since June 2007. The insured rate of unemployment held at 1.9% for a ninth consecutive week.
By state in the week ended August 23, the insured rate of unemployment continued to vary greatly with Nebraska (0.70%), Indiana (0.87%), Kansas (1.14%), Louisiana (1.15%), Georgia (1.16%) and Kentucky (1.30%) at the low end of the range. At the high end were California (2.50%), Massachusetts (2.52%), Rhode Island (2.53%), Pennsylvania (2.64%), Connecticut (3.05%) and New Jersey (3.30%). 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.
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| Unemployment Insurance (000s) | 09/06/14 | 08/30/14 | 08/23/14 | Y/Y % | 2013 | 2012 | 2011 |
|---|---|---|---|---|---|---|---|
| Initial Claims | 315 | 304 | 298 | 2.6 | 343 | 375 | 409 |
| Continuing Claims | -- | 2,487 | 2,478 | -12.6 | 2,977 | 3,319 | 3,742 |
| Insured Unemployment Rate (%) | -- | 1.9 | 1.9 | 2.3 (8/13) |
2.3 | 2.6 | 3.0 |
Tom Moeller
AuthorMore in Author Profile »Prior to joining Haver Analytics in 2000, Mr. Moeller worked as the Economist at Chancellor Capital Management from 1985 to 1999. There, he developed comprehensive economic forecasts and interpreted economic data for equity and fixed income portfolio managers. Also at Chancellor, Mr. Moeller worked as an equity analyst and was responsible for researching and rating companies in the economically sensitive automobile and housing industries for investment in Chancellor’s equity portfolio. Prior to joining Chancellor, Mr. Moeller was an Economist at Citibank from 1979 to 1984. He also analyzed pricing behavior in the metals industry for the Council on Wage and Price Stability in Washington, D.C. In 1999, Mr. Moeller received the award for most accurate forecast from the Forecasters' Club of New York. From 1990 to 1992 he was President of the New York Association for Business Economists. Mr. Moeller earned an M.B.A. in Finance from Fordham University, where he graduated in 1987. He holds a Bachelor of Arts in Economics from George Washington University.
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