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Economy in Brief

Initial Claims for Jobless Insurance Again Down Sharply
by Tom Moeller October 27, 2005

Initial claims for unemployment insurance fell 28,000 to 328,000 last week versus a little revised 35,000 decline during the prior period. Consensus expectations had been for 340,000 claims.

The four-week moving average of initial claims fell to 366,500 (+7.8% y/y).

Continuing claims for unemployment insurance rose 42,000 following a downwardly revised 4,000 gain during the prior week.

The insured rate of unemployment rose to 2.3% from 2.2% during the prior four weeks. The low in early September was 2.0%.

Unemployment Insurance (000s) 10/22/05 10/15/05 Y/Y 2004 2003 2002
Initial Claims 328 356 -3.5% 343 402 404
   Hurricane Related Claims (000, NSA) 40 75
Continuing Claims -- 2,904 3.2% 2,926 3,531 3,570
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