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Economy in Brief

Initial Claims for Jobless Insurance Hover Around 330K
by Carol Stone March 8, 2007

Initial unemployment insurance claims fell 10,000 to 328,000 in the week ended March 3, basically reversing the prior week's 7,000 increase. The figure was marginally lower than Consensus expectations for a decline to 330,000 claims.

Despite the drop in the latest week, the four-week moving average of initial claims rose to 339,000, the highest since the Katrina-inflated numbers in the autumn of 2005.

In the week of Feb 24, continuing claims fell 98,000 to 2.526 million after a rise of 118,000 the week before, which likely had been storm-related. This pulled the associated rate of insured unemployment back down to its recent 1.9% average from a one-week move to 2.0%.

Unemployment Insurance (000s) 03/03/07 02/24/07 02/17/07 2006 2005 2004
Initial Claims 328 338 331 313 332 343
 Continuing Claims -- 2,526 2,624 2,459 2,662 2,924
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