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Economy in Brief

Initial Claims for Jobless Insurance Up a Bit
by Tom Moeller September 1, 2005

Initial claims for unemployment insurance rose 3,000 last week to 320,000 and reversed the prior week's revised 2,000 decline. Consensus expectations had been for 315,000 claims.

The latest figure should have little bearing on Consensus expectations for a 190,000 increase in August nonfarm payrolls, to be reported tomorrow morning by the Bureau of Labor Statistics.

The four-week moving average of initial claims rose slightly to 316,750 (-7.0% y/y).

Continuing claims for unemployment insurance rose 36,000 in the latest week to the highest level since early July.

For the seventh consecutive week, the insured unemployment rate remained at its four-year low of 2.0%.

Unemployment Insurance (000s) 08/27/05 08/20/05 Y/Y 2004 2003 2002
Initial Claims 320 317 -9.6% 343 402 404
Continuing Claims -- 2,607 -9.0% 2,926 3,531 3,570
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