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Economy in Brief

Initial Claims for Jobless Insurance Inched Up
by Tom Moeller December 29, 2005

Initial claims for unemployment insurance fell 3,000 to 322,000 last week following a little revised 12,000 decline the prior week. Consensus expectations had been for 325,000 claims.

During the last ten year there has been a (negative) 75% correlation between the level of initial jobless insurance claims and the m/m change in payroll employment.

The four-week moving average of initial claims was little changed at 325,000 (-1.7% y/y).

Continuing unemployment insurance claims increased a sharp 85,000 following a 36,000 rise the prior week which was little different than initially reported.

The insured rate of unemployment remained at 2.1%.

International Capital Flows and U.S. Interest Rates from the Federal Reserve Board is available here.

Unemployment Insurance (000s) 12/24/05 12/17/05 Y/Y 2004 2003 2002
Initial Claims 322 319 -0.6% 343 402 404
Continuing Claims -- 2,715 -1.2% 2,926 3,531 3,570
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