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Economy in Brief
Japan Shows Very Moderate Growth As Trade War Clouds Gather
Japan’s sector indexes showed a solid gain in February...
U.S. Consumer Confidence Unexpectedly Rose in April
The Conference Board Consumer Confidence Index rose to 128.7 in April from 127.0 (initially reported as 127.7) in March...
U.S. New Home Sales and Prices Strengthen
Sales of new single-family homes during March increased 4.0% (8.8% y/y) to 694,000 (SAAR)...
U.S. FHFA House Price Index Continues to Strengthen
The FHFA index of U.S. house prices rose 0.6% during February...
U.S. Energy Prices Rise Further
Retail gasoline prices increased to $2.80 per gallon last week (14.3% y/y)...
by Tom Moeller October 6, 2005
Initial filings for unemployment insurance outpaced Consensus expectations for 365,000 claims and rose 21,000 to 390,000 last week. The prior week's decline was lessened to 66,000.
The Labor Department indicated that last week 74,000 initial claims were linked to Hurricanes Katrina & Rita and totaled 363,000 during September.
The four-week moving average of initial claims rose to 404,500 (17.2% y/y) from 388,750 during the prior four weeks.
Continuing claims for unemployment insurance surged 118,000 following a downwardly revised 129,000 increase during the prior week.
The insured rate of unemployment rose to 2.3% from 2.2% the week prior. The low in early September was 2.0%.
Hurricane Katrina and the Employment Situation report for September 2005 from the US Bureau of Labor Statistics can be found here.
| Unemployment Insurance (000s) | 09/31/05 | 09/24/05 | Y/Y | 2004 | 2003 | 2002 |
|---|---|---|---|---|---|---|
| Initial Claims | 390 | 369 | 14.4% | 343 | 402 | 404 |
| Hurricane Related Claims (000, NSA) | 74 | 70 | ||||
| Continuing Claims | -- | 2,905 | 2.1% | 2,926 | 3,531 | 3,570 |
