A quick forecast of the North Dakota initial claims data. There is a bit of work to do for the next revision, but the claims data show a consistency that contributes to the discussion of overall ND labor market.
I am doing some forecasting for initial claims and thought I would introduce the data set. I think claims will likely be important indicator for the state economy.
The discussion surrounding the oil boom and broader performance in the North Dakota economy tends to focus on variables such as employment, unemployment, and labor force. Nothing wrong with that really; these three measures provide important insights into labor markets and, at least indirectly, broader economic performance. There is a different measure, available with a much higher frequency and likely more useful to the broader discussions of economic performance: unemployment insurance claims.