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Economy in Brief

Initial Jobless Insurance Claims Back Down
by Tom Moeller May 25, 2006

Last week, initial unemployment insurance claims fell 40,000 to 329,000 due to the resolution of a partial government shutdown in Puerto Rico. The drop reversed nearly all of the prior week's little revised rise. Consensus expectations had been for 315,000 claims.

The four week moving average of initial claims rose to 337,000 (0.9% y/y).

Continuing claims for unemployment insurance increased 38,000 following a revised 1,000 rise during the prior week.

The insured rate of unemployment ticked up to 1.9% following two weeks at 1.8%.

Financial literacy, testimony of Federal Reserve Board Chairman Ben S. Bernanke, can be found here.

Unemployment Insurance (000s) 05/20/06 05/13/06 Y/Y 2005 2004 2003
Initial Claims 329 369 0.6% 332 343 403
Continuing Claims -- 2,420 -6.7% 2,663 2,923 3,530
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