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Economy in Brief

Jobless Claims Lowest Since Early 2001
by Tom Moeller April 8, 2004

Initial claims for jobless insurance fell 14,000 last week to 328,000, the lowest level since January 2001. The prior week's level was unrevised and Consensus expectations had been for 340,000 claims.

The 4-week moving average of initial claims fell to 336,750 (-19.6% y/y), the lowest level since November 2000.

Continuing claims for unemployment insurance fell 40,000 in the week ended 3/27 and the prior week's increase was revised down to 23,000 from 32,000.

The insured rate of unemployment was unchanged at 2.4% for the fifth consecutive week.

From the Federal Reserve Board's Finance and Discussion Series is the following paper on the tax effects on self-employment.

Unemployment Insurance (000s) 04/03/04 3/27/04 Y/Y 2003 2002 2001
Initial Claims    328 342 -20.8% 403 404 406
Continuing Claims    -- 3,010 -14.3% 3,533 3,573 3,023
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