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Economy in Brief

Initial Claims for Unemployment Insurance Fell
by Tom Moeller July 6, 2006

Initial unemployment insurance claims slipped 2,000 to 313,000 last week after a 6,000 rise the prior week that was upwardly revised, slightly. Consensus expectations had been for 315,000 claims.

The four-week moving average of initial claims rose to 308,500 (-4.8% y/y).

Continuing claims for unemployment insurance rose 52,000 following a 20,000 decline the previous week which was revised from a 54,000 increase reported initially.

The insured rate of unemployment was stable at 1.9% where it has been since February.

If You Lost Your Job from the Federal Reserve Bank of Minneapolis can be found here.

Unemployment Insurance (000s) 06/31/06 06/24/06 Y/Y 2005 2004 2003
Initial Claims 313 315 -4.0% 332 343 403
 Continuing Claims -- 2,455 -5.6% 2,663 2,923 3,530
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