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Economy in Brief

Initial Claims for Jobless Insurance Remained Low
by Tom Moeller November 16, 2006

Initial claims for jobless insurance fell 2,000 to 308,000 last week from an upwardly revised reading during the prior period. Consensus expectations had been for an increase to 311,000 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 rose slightly to 313,750 (-0.7% y/y).

Continuing claims for unemployment insurance were unchanged and have been since September.

The insured rate of unemployment remained at 1.9%.

Unemployment Insurance (000s) 11/11/06 11/04/06 Y/Y 2005 2004 2003
Initial Claims 308 310 0.3% 332 343 403
 Continuing Claims -- 2,443 -10.4% 2,662 2,924 3,532
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