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Economy in Brief


by Tom Moeller U.S. Jobless Insurance Claims Fell Again July 26, 2007

Initial unemployment insurance claims fell another 2,000 last week to 301,000 after a revised and lessened 6,000 decline during the prior week to the lowest level since May.

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 308,500 (-1.4% y/y).

Continuing claims for unemployment insurance fell 19,000 after a very much revised 13,000 increase during the prior week.

The insured rate of unemployment was stable at 1.9%.

Unemployment Insurance (000s) 07/14/07 07/12/07 Y/Y 2006
Initial Claims 301 303 -0.3% 313
Continuing Claims -- 2,545 3.3% 2,459
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