Global| May 25 2006Initial Jobless Insurance Claims Back Down
by:Tom Moeller
|in:Economy in Brief
Summary
Last week, initial unemployment insurance claims fell 40,000 to 329,000 due to the resolution of a partial government shutdown in Puerto Rico. The drop reversed nearly all of the prior week's little revised rise. Consensus [...]
Last week, initial unemployment insurance claims fell 40,000 to 329,000 due to the resolution of a partial government shutdown in Puerto Rico. The drop reversed nearly all of the prior week's little revised rise. Consensus expectations had been for 315,000 claims.
The four week moving average of initial claims rose to 337,000 (0.9% y/y).
Continuing claims for unemployment insurance increased 38,000 following a revised 1,000 rise during the prior week.
The insured rate of unemployment ticked up to 1.9% following two weeks at 1.8%.
Financial literacy, testimony of Federal Reserve Board Chairman Ben S. Bernanke, can be found here.
| Unemployment Insurance (000s) | 05/20/06 | 05/13/06 | Y/Y | 2005 | 2004 | 2003 |
|---|---|---|---|---|---|---|
| Initial Claims | 329 | 369 | 0.6% | 332 | 343 | 403 |
| Continuing Claims | -- | 2,420 | -6.7% | 2,663 | 2,923 | 3,530 |
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.
