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Economy in Brief

Initial Claims for Unemployment Insurance Dip
by Tom Moeller August 24, 2006

Initial claims for jobless insurance last week dipped 1,000 to 313,000 after a revised 8,000 decline the prior week. Consensus expectations had been for 315,000 claims.

During the last ten years there has been a (negative) 78% correlation between the level of initial claims and the m/m change in nonfarm payroll employment.

The four-week moving average of initial claims increased to 315,250 (-0.5% y/y).

Continuing claims for unemployment insurance fell 9,000 following a downwardly revised 28,000 increase during the previous week.

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

Has The Internet Increased Trade? from the American Enterprise Institute is available here.

Unemployment Insurance (000s) 8/19/06 8/12/06 Y/Y 2005 2004 2003
Initial Claims 313 314 -0.9% 332 343 403
 Continuing Claims -- 2,492 -3.6% 2,662 2,924 3,532
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