U.S. Leading Index, Jobless Claims Rise A Bit

Aug. 18, 2005
The Conference Board's index of leading economic indicators for the U.S. rose one-tenth of a percentage point in July, following a 1.2% increase in June and no change in May. July's small increase keeps the index on "a slightly rising trend," notes the ...

The Conference Board's index of leading economic indicators for the U.S. rose one-tenth of a percentage point in July, following a 1.2% increase in June and no change in May. July's small increase keeps the index on "a slightly rising trend," notes the New York-based business research group. The leading index for the U.S., a preview of the economy during the next three to six months, now stands at 138.3 (1996=100).

The leading index has increased at a 2.2% annual growth rate during the past six months, although the rate of growth has "slowed steadily" through the first half of 2005, says the Conference Board. "This behavior is consistent with the [U.S.] economy continuing to expand moderately in the near term."

Declining claims for unemployment insurance, the biggest positive contributor to the leading index in July, reversed course slightly last week. Initial jobless claims rose to 316,000 in the week ending August 13, an increase of 6,000 from the previous week's revised figure of 310,000, the U.S. Labor Department reported on August 18. The department's four-week moving average of initial claims also increased a bit to 312,750, some 2,750 more than the previous week's revised average of 310,000. Neither the higher weekly figure nor the higher four-week average, however, is large enough to suggest a shift away from respectable rate of job creation in the overall U.S. economy.

About the Author

John McClenahen | Former Senior Editor, IndustryWeek

 John S. McClenahen, is an occasional essayist on the Web site of IndustryWeek, the executive management publication from which he retired in 2006. He began his journalism career as a broadcast journalist at Westinghouse Broadcasting’s KYW in Cleveland, Ohio. In May 1967, he joined Penton Media Inc. in Cleveland and in September 1967 was transferred to Washington, DC, the base from which for nearly 40 years he wrote primarily about national and international economics and politics, and corporate social responsibility.
      
      McClenahen, a native of Ohio now residing in Maryland, is an award-winning writer and photographer. He is the author of three books of poetry, most recently An Unexpected Poet (2013), and several books of photographs, including Black, White, and Shades of Grey (2014). He also is the author of a children’s book, Henry at His Beach (2014).
      
      His photograph “Provincetown: Fog Rising 2004” was selected for the Smithsonian Institution’s 2011 juried exhibition Artists at Work and displayed in the S. Dillon Ripley Center at the Smithsonian Institution in Washington, D.C., from June until October 2011. Five of his photographs are in the collection of St. Lawrence University and displayed on campus in Canton, New York.
      
      John McClenahen’s essay “Incorporating America: Whitman in Context” was designated one of the five best works published in The Journal of Graduate Liberal Studies during the twelve-year editorship of R. Barry Leavis of Rollins College. John McClenahen’s several journalism prizes include the coveted Jesse H. Neal Award. He also is the author of the commemorative poem “Upon 50 Years,” celebrating the fiftieth anniversary of the founding of Wolfson College Cambridge, and appearing in “The Wolfson Review.”
      
      John McClenahen received a B.A. (English with a minor in government) from St. Lawrence University, an M.A., (English) from Western Reserve University, and a Master of Arts in Liberal Studies from Georgetown University, where he also pursued doctoral studies. At St. Lawrence University, he was elected to academic honor societies in English and government and to Omicron Delta Kappa, the University’s highest undergraduate honor. John McClenahen was a participant in the 32nd Annual Wharton Seminars for Journalists at the Wharton School at the University of Pennsylvania in Philadelphia. During the Easter Term of the 1986 academic year, John McClenahen was the first American to hold a prestigious Press Fellowship at Wolfson College, Cambridge, in the United Kingdom.
      
      John McClenahen has served on the Editorial Board of Confluence: The Journal of Graduate Liberal Studies and was co-founder and first editor of Liberal Studies at Georgetown. He has been a volunteer researcher on the William Steinway Diary Project at the Smithsonian Institution, Washington, D.C., and has been an assistant professorial lecturer at The George Washington University in Washington, D.C.
      

 

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