Share
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 6 increased slightly from the previous week’s level to 279,000. This increase of 2,000 claims can be attributed as weekly volatility in the data. The 4-week moving average also increased to 278,750 claims. Most analysts consider a level of 300,000 as an indicator of normal economic activity. Initial claims for unemployment insurance are filed by workers starting a period of unemployment. Fewer initial claims mean fewer layoffs and greater job stability.
- Initial claims data by state lag a week compared to the national level data. For the week ending May 30, the largest decreases occurred in California (-7,891), Texas (-2,580), Kansas (-2,075), New Jersey (-1,531), and Florida (-1,232). The largest increases occurred in Tennessee (+1,006), Puerto Rico (+686), Ohio (+540), New Mexico (+416), and Alabama (+359).
- With job losses trending downward and jobs increasing at a monthly pace of about 220 thousand, NAR forecasts 5.2 million of existing home sales in 2015.
Notice: The information on this page may not be current. The archive is a collection of content previously published on one or more NAR web properties. Archive pages are not updated and may no longer be accurate. Users must independently verify the accuracy and currency of the information found here. The National Association of REALTORS® disclaims all liability for any loss or injury resulting from the use of the information or data found on this page.