Econ Thursday- Empire State, Weekly Claims

Empire State Mfg Survey

Released on 7/15/2010 8:30:00 AM For Jul, 2010 Prior Consensus Consensus Range Actual General Business Conditions Index - Level 19.57  18.0  16.0  to 20.0  5.08  Jobless Claims Released on 7/15/2010 8:30:00 AM For wk7/10, 2010 Prior Consensus Consensus Range Actual New Claims - Level 454 K 445 K 420 K to 460 K 429 K 4-week Moving Average - Level 466 K 455.25 K Highlights In a report filled with noise, jobless claims plunged 29,000 in the July 10 week to 429,000 (prior week revised 4,000 higher to 458,000). Manufacturing retooling centered in the auto sector, for this year delayed retooling, makes the report very difficult to read. The four-week average is the best handle and it's down 11,750 to 455,250 for the lowest reading since mid May. Whatever improvement there is on the initial side is offset by a big 247,000 jump in continuing claims to 4.681 million in data for the July 3 week. The four-week average for this reading is up 22,000 to 4.581 million for the highest reading since mid June. The unemployment rate for insured workers rose two tenths to 3.7 percent. Summer retooling, which allows laid off workers to file claims, makes adjustments to this series very difficult at this time of year and will cloud its indications for the July employment report.