Weekly Initial Jobless Claims At 289k

Initial jobless claims for the week ending December 13 were a seasonally adjusted 289k, down from the prior week’s revised reading of 295k. Not seasonally adjusted, jobless claims for the week were 327k.

Jobless Claims

Individual states that had changes in claims of more than 1k (not seasonally adjusted):

States

The 4-week moving average of initial jobless claims was 299k.

Jobless Claims 4W

The number of unemployment insurance recipients, or continuing claims, for regular state programs was 2.373 million, down from the previous week’s revised reading of 2.520 million.

Unemployment Insurance Recipients

The insured unemployment rate, which is the number of unemployment insurance recipients as a share of covered employment, was 1.79%,down from 1.90% the week prior.

Insured Unemployment

90.12% of all U.S. jobs are covered by state unemployment insurance programs.

Covered Employment

Of the 9.110 million Americans currently unemployed, 26.05% receive unemployment insurance.

UI Share of Unemployed

Jobless claims and the unemployment rate:

Labor Market

U.S. Consumer Prices Fall In November

The Consumer Price Index for All Urban Consumers (CPI-U) decreased 0.3% in November on a seasonally adjusted basis, as reported by the U.S. Bureau of Labor Statistics. Over the last 12 months, the all items index increased 1.3%.

The core CPI, which excludes food and energy, increased 0.1% in November and is up 1.7% year over year.

CPI Monthly

CPI Annual

The All Food index increased 0.2% in and is up 3.2% from a year ago. The All Energy index decreased 3.8% and is down 4.9% from a year ago.

CPI Table

CPI Components

The Producer Price Index for final demand decreased 0.3% in November, seasonally adjusted. The index for final demand increased 1.4% for the 12 months ended in November.

The core PPI, which excludes food and energy, was unchanged and is up 1.7% from a year ago.

PPI Monthly

PPI Annual

U.S. Industrial Production Grows In November

U.S. industrial production increased 1.3% in November after having increased 0.1% in October. At 106.7% of its 2007 average, total industrial production in November was 5.2% above its level of a year earlier.

Industrial Production Change

Industrial Production

The output of manufacturing increased 1.1% in November, production at mines decreased 0.1%, and output of utilities increased 5.1%.

Capacity utilization for total industry increased in November to 80.1%. That is equal to its long-run (1972–2013) average.

Capacity Utilization

U.S. Household Net Worth Declines To $81.3 Trillion In Q3

The Federal Reserve published its quarterly Z.1 report today (also known as the Flow of Funds report) which summarizes the balance sheets for U.S. households.

U.S. household net worth decreased to $81.3 trillion in the third quarter from $81.5 trillion in the second quarter, and is up 6.7% from last year.

Household Net Worth

Assets were little changed at $95.4 trillion and liabilities increased to $14.1 trillion from $13.9 trillion.

Assets Liabilities and Net WOrth

 

Financial assets as a share of total assets decreased to 70.0% in Q3 from 70.3% in Q2.

Household Assets

Real estate, the largest household asset, made up 24.3% of total assets from 24.0% in Q2.

Household Assets All

Home mortgages as a share of liabilities declined to 66.7% from a high of 75.0% in 2009.

Household Liabilities

Weekly Initial Jobless Claims At 294k

Initial jobless claims for the week ending December 6 were a seasonally adjusted 294k, down from the prior week’s revised reading of 297k. Not seasonally adjusted, jobless claims for the week were 388k.

Jobless Claims

Individual states that had changes in claims of more than 1k (not seasonally adjusted):

States

The 4-week moving average of initial jobless claims was 299k.

Jobless Claims 4W

The number of unemployment insurance recipients, or continuing claims, for regular state programs was 2.514 million, up from the previous week’s revised reading of 2.372 million.

Unemployment Insurance Recipients

The insured unemployment rate, which is the number of unemployment insurance recipients as a share of covered employment, was 1.89%, up from 1.79% the week prior.

Insured Unemployment Rate

90.12% of all U.S. jobs are covered by state unemployment insurance programs.

Covered Employment

Of the 9.110 million Americans currently unemployed, 27.60% receive unemployment insurance.

UI Share

Jobless claims and the unemployment rate:

Labor Market

Treasury Runs Budget Deficit Of $121.7 Billion In October

The U.S. federal government ran a budget deficit of $121.7 billion during the month of October. This compares with a $91.6 billion deficit in October of 2013.

Monthly Activity

Receipts for the month totaled $212.7 billion, up from $198.9 billion a year earlier. Total outlays were $334.4 billion from $290.5 billion a year earlier.

The rolling 12-month U.S. government budget deficit through October was $514.5 billion, worse than the $484.3 billion in September. The rolling 12-month budget balance as a percentage of gross domestic product is -2.93%.

Budget Balance