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Economy in Brief

Initial Jobless Insurance Claims Up Slightly
by Tom Moeller July 5, 2007

Initial unemployment insurance claims rose 2,000 to 318,000last week after a 10,000 increase the week prior.

During the last ten years there has been a (negative) 77% 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 to 318,500 (2.8% y/y).

An 84,000 rise in continuing claims for unemployment insurance reversed all of a 32,000 decline during the week prior.

The insured rate of unemployment ticked up to 2.0%.

Unemployment Insurance (000s) 06/30/07 06/27 /07 Y/Y 2006 2005 2004
Initial Claims 318 316 0.6% 313 332 343
Continuing Claims -- 2,569 4.7% 2,459 2,662 2,924
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