This blog post was written by Erin Fitzpatrick. Erin is a Summer Research Intern and is currently studying at George Washington University pursuing a B.S. in Economics and a B.A. in Political Science.
- Initial claims for unemployment insurance filed during the week ending June 27 increased from the previous week’s level to 281,000. This increase of 10,000 claims can be attributed as weekly volatility in the data. The 4-week moving average also increased to 274,750 claims. Initial claims for unemployment insurance are filed by workers starting a period of unemployment. Fewer initial claims mean fewer layoffs and greater job stability. Most analysts consider a level of 300,000 as an indicator of normal economic activity.
- While no one likes to experience the need for unemployment insurance checks, the broadly lower figures imply healthier job market conditions. Read here for job gains.
- NAR expects nonfarm payroll employment to increase by about 2.5 million net new jobs in 2015 and 5.3 million in existing home sales.