Global| Jan 24 2002Initial Jobless Insurance Claims Continue Downtrend
by:Tom Moeller
|in:Economy in Brief
Summary
Initial claims for unemployment insurance again fell unexpectedly in the latest week. The prior week's level was revised up slightly. The decline in weekly claims pulled the four-week moving average to 404,250, its lowest level since [...]
Initial claims for unemployment insurance again fell unexpectedly in the latest week. The prior week's level was revised up slightly.
The decline in weekly claims pulled the four-week moving average to 404,250, its lowest level since late-August.
Despite the distortions common to the claims figures this time of year, the downtrend confirms genuine labor market improvement.
Continuing claims for unemployment insurance dropped another 1.5%, though the prior week's level was revised higher. Continuing claims have fallen 13.3% since the mid-November peak.
The insured rate of unemployment was unchanged at 2.7%.
| Unemployment Insurance (000s) | 01/19/02 | 01/12/02 | Y/Y | 2001 | 2000 | 1999 |
|---|---|---|---|---|---|---|
| Initial Claims | 376.0 | 391.0 | 20.9% | 408.0 | 302.8 | 297.7 |
| Continuing Claims | -- | 3,458 | 49.1% | 3,031 | 2,127 | 2,187 |
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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