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Economy in Brief

Initial Unemployment Insurance Claims Up
by Tom Moeller May 4, 2006

Initial claims for jobless insurance rose 5,000 last week to 322,000 from an upwardly revised level the prior period. Consensus expectations had been for 310,000 claims.

The increase pulled the level of claims filed last month up to 314,000. The 1.6% increase versus March was the third m/m rise since the January low when just 286,000 claims were filed.

The four week moving average of initial claims rose to 314,250 (-4.4% y/y).

Continuing claims for unemployment insurance rose for the third consecutive week. The 21,000 increase followed a downwardly revised 14,000 increase the prior week.

The insured unemployment rate remained at 1.9%, where it's been since early February.

Assessing the impact of job loss on workers and firms from the Federal Reserve Bank of Chicago can be found here.

Unemployment Insurance (000s) 04/29/06 04/22/06 Y/Y 2005 2004 2003
Initial Claims 322 317 -5.6% 332 343 403
Continuing Claims -- 2,462 -5.5% 2,663 2,923 3,530
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