Global| Jan 09 2003Initial Claims for Unemployment Insurance Fell Slightly
by:Tom Moeller
|in:Economy in Brief
Summary
Initial claims for unemployment insurance were lower than expected during New Year's week. Claims fell 19,000 from the prior week's level which was revised slightly higher. The incidence of two holidays in back to back weeks [...]
Initial claims for unemployment insurance were lower than expected during New Year's week. Claims fell 19,000 from the prior week's level which was revised slightly higher. The incidence of two holidays in back to back weeks historically has generated volatility in these seasonally adjusted figures.
The four-week moving average of initial claims fell to 406,000, down 0.2% y/y.
Continuing claims for unemployment insurance rose 1.0%. The prior week's level was revised down slightly.
The insured rate of unemployment was 2.7% for the fifth week in six.
| Unemployment Insurance (000s) | 1/04/03 | 12/28/02 | Y/Y | 2002 | 2001 | 2000 |
|---|---|---|---|---|---|---|
| Initial Claims | 389.0 | 408.0 | -2.3% | 405.0 | 405.8 | 299.8 |
| Continuing Claims | -- | 3,445 | 0.0% | 3,588 | 3,021 | 2,114 |
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.
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