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Economy in Brief

Initial Claims for Jobless Insurance Fell Unexpectedly
by Tom Moeller September 14, 2006

Initial claims for jobless insurance fell 5,000 last week to 308,000, repeating a slightly revised decline during the prior week. Consensus expectations had been for 315,000 claims and filings were at the lowest level in nearly two months.

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 fell to 314,250 (-8.8% y/y), the lowest level in one month.

Continuing claims for unemployment insurance rose 18,000 following a downwardly revised 4,000 increase during the prior week.

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

Former Speaker of the House Newt Gingrich Addresses Terrorist Threats from the American Enterprise Institute can be found here.

Unemployment Insurance (000s) 9/09/06 9/02/06 Y/Y 2005 2004 2003
Initial Claims 308 313 -26.5% 332 343 403
 Continuing Claims -- 2,499 -3.4% 2,662 2,924 3,532
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