Global| Apr 12 2018U.S. Initial Unemployment Insurance Claims Decline
by:Tom Moeller
|in:Economy in Brief
Summary
Initial claims for jobless insurance fell to 233,000 (-1.3% y/y) during the week ended April 7 from an unrevised 242,000 in the prior week. Expectations in the Action Economics Forecast Survey had been for 230,000 claims. The four- [...]
Initial claims for jobless insurance fell to 233,000 (-1.3% y/y) during the week ended April 7 from an unrevised 242,000 in the prior week. Expectations in the Action Economics Forecast Survey had been for 230,000 claims. The four-week moving average rose slightly to 230,000, but remained near the lowest level since March 1973.
In the week ended March 31, continuing claims for unemployment insurance increased 2.9% to 1.871 million (-7.2% y/y) and reversed the prior week's decline. The four-week moving average of claimants slipped to 1.850 million, the lowest level since January 1974.
The insured rate of unemployment remained at the record low of 1.3%.
Insured rates of unemployment varied widely by state. During the week ended March 24, the lowest rates of unemployment were Florida (0.47%), North Carolina (0.48%), Georgia (0.60%), Indiana (0.62%) and Virginia (0.64%). The highest rates were in Montana (2.24%), Rhode Island (2.34%), Connecticut (2.62%), New Jersey (2.72%) and Alaska (3.24%). 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) | 04/07/18 | 03/31/18 | 03/24/18 | Y/Y % | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|
| Initial Claims | 233 | 242 | 218 | -1.3 | 245 | 263 | 278 |
| Continuing Claims | -- | 1,871 | 1,818 | -7.2 | 1,961 | 2,136 | 2,267 |
| Insured Unemployment Rate (%) | -- | 1.3 | 1.3 |
1.4 |
1.4 | 1.6 | 1.7 |
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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