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Economy in Brief

Initial Claims for Jobless Insurance Rose
by Tom Moeller June 1, 2006

Initial unemployment insurance claims rose 7,000 last week to 336,000 from an unrevised level the prior week. Consensus expectations had been for 320,000 claims.

The four week moving average of initial claims rose to 333,500 (-0.5% y/y) as a result of earlier increases in Puerto Rico.

Continuing claims for unemployment insurance rose 19,000 following a downwardly revised 32,000 rise during the prior week.

The insured rate of unemployment was stable at 1.9%.

The minutes to the latest meeting of the Federal Open Market Committee are available here.

Unemployment Insurance (000s) 05/27/06 05/20/06 Y/Y 2005 2004 2003
Initial Claims 336 329 -2.9% 332 343 403
Continuing Claims -- 2,433 -6.7% 2,663 2,923 3,530
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