Global| Dec 14 2006Initial Claims For Jobless Insurance at Two Month Low
by:Tom Moeller
|in:Economy in Brief
Summary
Initial unemployment insurance claims fell a sharp 20,000 last week to 304,000 following an unrevised 34,000 drop during the prior week. The decline was to the lowest level since mid-October and by far surpassed Consensus expectations [...]
Initial unemployment insurance claims fell a sharp 20,000 last week to 304,000 following an unrevised 34,000 drop during the prior week. The decline was to the lowest level since mid-October and by far surpassed Consensus expectations for a slight decline to 320,000 claims.
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 eased slightly to 327,750 (+2.6% y/y).
Continuing claims for unemployment insurance fell 33,000 after a downwardly revised 43,000 increase during the prior week.
Beyond the Outsourcing Angst: Making America More Productive from the Federal Reserve Bank of Dallas can be found here.
How Labor Market Policies Shape Immigrants’ Opportunities, also from the Federal Reserve Bank of Dallas, is available here.
| Unemployment Insurance (000s) | 12/09/06 | 12/02/06 | Y/Y | 2005 | 2004 | 2003 |
|---|---|---|---|---|---|---|
| Initial Claims | 304 | 324 | -5.3% | 332 | 343 | 403 |
| Continuing Claims | -- | 2,477 | -4.5% | 2,662 | 2,924 | 3,532 |
Tom Moeller
AuthorMore in Author Profile »Prior to joining Haver Analytics in 2000, Mr. Moeller worked as the Economist at Chancellor Capital Management from 1985 to 1999. There, he developed comprehensive economic forecasts and interpreted economic data for equity and fixed income portfolio managers. Also at Chancellor, Mr. Moeller worked as an equity analyst and was responsible for researching and rating companies in the economically sensitive automobile and housing industries for investment in Chancellor’s equity portfolio. Prior to joining Chancellor, Mr. Moeller was an Economist at Citibank from 1979 to 1984. He also analyzed pricing behavior in the metals industry for the Council on Wage and Price Stability in Washington, D.C. In 1999, Mr. Moeller received the award for most accurate forecast from the Forecasters' Club of New York. From 1990 to 1992 he was President of the New York Association for Business Economists. Mr. Moeller earned an M.B.A. in Finance from Fordham University, where he graduated in 1987. He holds a Bachelor of Arts in Economics from George Washington University.
More Economy in Brief
