In each Economic Update, the Research staff analyzes recently released economic indicators and addresses what these indicators mean for REALTORS® and their clients. Today’s update discusses unemployment insurance claims.
- Initial claims for unemployment insurance filed in the week ending September 7 dropped to 292,000, the lowest in 13 years. The first release of the data is preliminary and is generally upwardly revised the following week, although on a minor scale. Weekly claims data for unemployment insurance also fluctuates widely. Despite the caveat, the report is positive and claims have generally been on the downtrend in 2013, with the latest 4-week moving average at 321,250, a level close to what most analysts consider normal.
- What this means to REALTORS®: A lower level of initial claims indicates greater job stability and security for those currently employed, which is important to the housing market that relies on a steady and reliable stream of long-term income growth.