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Economy in Brief

Initial Jobless Insurance Claims Slipped
by Tom Moeller October 13, 2005

Initial filings for unemployment insurance fell to 389,000 last week versus an upwardly revised 391,000 the prior period. Consensus expectations had been for 370,000 claims.

The Labor Department indicated that last week 75,000 initial claims were linked to Hurricanes Katrina & Rita and totaled 438,000 during September.

The four-week moving average of initial claims fell slightly to 395,750 (13.8% y/y) from 388,750 during the prior four weeks.

Continuing claims for unemployment insurance slipped 5,000 following a downwardly revised 91,000 increase during the prior week.

The insured rate of unemployment also slipped to 2.2% from 2.3% the week prior. The low in early September was 2.0%.

Unemployment Insurance (000s) 10/08/05 10/01/05 Y/Y 2004 2003 2002
Initial Claims 389 391 13.1% 343 402 404
   Hurricane Related Claims (000, NSA) 75 74
Continuing Claims -- 2,905 2.1% 2,926 3,531 3,570
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