Global| Dec 04 2014U.S. Initial Unemployment Insurance Claims Decline
by:Tom Moeller
|in:Economy in Brief
Summary
Initial claims for unemployment insurance during the week ended November 29 dropped to 297,000 after increasing to 314,000 in the prior week, revised from 313,000. The four-week moving average of initial claims increased to 299,000. [...]
Initial claims for unemployment insurance during the week ended November 29 dropped to 297,000 after increasing to 314,000 in the prior week, revised from 313,000. The four-week moving average of initial claims increased to 299,000. The Action Economics Forecast Survey expected 287,000 claims in the latest week.
Continuing claims for unemployment insurance in the week ended November 22 increased to 2.362 million (-15.8% y/y). The four-week moving average declined to 2.355 million, the lowest level since January 2001. The insured rate of unemployment held at 1.8%.
By state, in the week ended November 15, the insured rate of unemployment continued to vary greatly with Indiana (0.91%), Georgia (1.04%), Louisiana (1.06%), Ohio (1.14%), Kentucky (1.19%) and Texas (1.21%) at the low end of the range. At the high end were Massachusetts (2.19%), Montana (2.26%), Nevada (2.42%), Connecticut (2.44%), California (2.53%) and New Jersey (2.93%). 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.
The Fed's latest Beige Book covering regional economic conditions is available here.
| Unemployment Insurance (000s) | 11/29/14 | 11/22/14 | 11/15/14 | Y/Y % | 2013 | 2012 | 2011 |
|---|---|---|---|---|---|---|---|
| Initial Claims | 297 | 314 | 292 | -6.3 | 343 | 375 | 409 |
| Continuing Claims | -- | 2,362 | 2,323 | -15.8 | 2,977 | 3,319 | 3,742 |
| Insured Unemployment Rate (%) | -- | 1.8 | 1.8 | 2.2 (11/13) |
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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