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Economy in Brief

Initial Claims for Jobless Insurance Higher
by Tom Moeller December 1, 2005

Initial claims for jobless insurance reversed about half of the prior week's rise and fell 17,000 to 320,000 during Thanksgiving week. Consensus expectations had been for 323,000 claims.

Hurricane related claims dropped back to 10,000 and brought the total of the three storms during the last thirteen weeks to 592,000.

The four-week moving average of initial claims fell slightly to 322,500 (-3.5% y/y).

Continuing claims for unemployment insurance fell 24,000 following a downwardly revised 26,000 gain the prior week.

The insured rate of unemployment held at 2.2% for the tenth consecutive week.

Unemployment Insurance (000s) 11/26/05 11/19/05 Y/Y 2004 2003 2002
Initial Claims 320 337 -7.5% 343 402 404
Continuing Claims -- 2,767 1.1% 2,926 3,531 3,570
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