Recent Updates

  • US: Philadelphia Fed State Coincidence Indexes (Apr)
  • US: Advance Durable Goods (Apr)
  • Maldives: Depository Corporations Survey (Apr)
  • Mexico: GDP (Q1), Economic Activity (Mar), Trade (Apr)
  • Bosnia: PPI (Apr)
  • more updates...

Economy in Brief

Initial Jobless Insurance Claims Rose
by Tom Moeller October 28, 2004

Initial claims for unemployment insurance last week recouped most of the prior period's decline with a 20,000 rise to 350,000 following a 25,000 decline that was little revised. The Consensus expectation had been for 340,000 claims.

During the last ten years there has been a (negative) 73% correlation between the level of initial claims and the m/m change in payroll employment.

The 4-week moving average of initial claims fell to 343,250 (-11.6% y/y).

Continuing claims for unemployment insurance rose 38,000 after sharp declines during five of the prior six weeks.

The insured rate of unemployment remained at 2.2% for the third week.

Unemployment Insurance (000s) 10/23/04 10/16/04 Y/Y 2003 2002 2001
Initial Claims 350 330 -9.3% 402 404 406
Continuing Claims -- 2,823 -19.5% 3,531 3,570 3,018
large image