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Economy in Brief

Initial Jobless Insurance Claims Up A Bit
by Tom Moeller January 26, 2006

Initial claims for unemployment insurance ticked 11,000 higher to 283,000 following a little revised 36,000 decline the prior week. Consensus expectations had been for 305,000 claims.

During the last ten years 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 fell further to 288,750 (-14.1% y/y), its lowest level since June 2000.

Continuing unemployment insurance claims increased 53,000 following a deepened 154,000 decline the prior week.

The insured rate of unemployment held at 2.0% for the second week.

Unemployment Insurance (000s) 01/21/06 01/14/06 Y/Y 2005 2004 2003
Initial Claims 283 272 -11.8% 332 343 402
Continuing Claims -- 2,581 -7.0% 2,663 2,924 3,532
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