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Economy in Brief

Initial Claims For Jobless Insurance Down
by Tom Moeller August 5, 2004

Initial unemployment insurance claims unexpectedly fell 11,000 to 336,000 after a 6,000 rise the prior week that was revised slightly up from the initial report.

During the last ten years there has been a (negative) 75% correlation between the level of initial jobless claims and the m/m change in non-farm payrolls.

The 4-week moving average of initial claims rose to 343,500 (-14.0% y/y).

Continuing claims for unemployment insurance fell 35,000 following a downwardly revised 157,000 worker jump the prior week.

The insured rate of unemployment was stable at 2.3%.

"Reaching the Top: Challenges and Opportunities: Women Leaders" from the Federal Reserve Bank of Boston is available here.

Unemployment Insurance (000s) 7/31/04 7/24/04 Y/Y 2003 2002 2001
Initial Claims    336 347 -15.8% 403 404 406
Continuing Claims    -- 2,911 -19.6% 3,533 3,573 3,023
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