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Economy in Brief

Initial Jobless Insurance Claims Fell To Two Month Low
by Tom Moeller June 8, 2006

Initial claims for unemployment insurance fell 35,000 w/w to the lowest level since early April. The decline last week to 302,000 followed a slightly revised 9,000 increase the prior period and may have been biased down by the Memorial Day holiday. Consensus expectations had been for 330,000 claims.

The four week moving average of initial claims fell to 327,750 (-1.9% y/y).

Continuing claims for unemployment insurance reversed the downwardly revised increase the prior week and fell 5,000.

The insured rate of unemployment was stable at 1.9% for the third consecutive week.

Adjusting to the Next Stage of the Housing Cycle is yesterday's speech given by Jack Guynn, President of the Federal Reserve Bank of Atlanta, and it is available here.

Unemployment Insurance (000s) 06/03/06 05/27/06 Y/Y 2005 2004 2003
Initial Claims 302 337 -9.6% 332 343 403
Continuing Claims -- 2,415 -7.2% 2,663 2,923 3,530
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