Initial Jobless Insurance Claims Drop
by:Tom Moeller
|in:Economy in Brief
Summary
Last week, initial claims for unemployment insurance fell 10,000 to 302,000 from an upwardly revised level the prior period. The figure matched Consensus expectations. Revisions raised the recent claims figures by roughly 10,000. [...]
Last week, initial claims for unemployment insurance fell 10,000 to 302,000 from an upwardly revised level the prior period. The figure matched Consensus expectations.
Revisions raised the recent claims figures by roughly 10,000.
During the last ten years there has been a (negative) 75% correlation between the level of initial jobless insurance claims and the m/m change in payroll employment.
The four-week moving average of initial claims fell to 310,750 (-7.7% y/y).
Continuing unemployment insurance claims reversed most of the prior week's sharp drop, which was revised deeper, and rose 38,000 to 2.472M.
The insured rate of unemployment was stable at 1.9% for the sixth week.
Unemployment Insurance (000s) | 03/25/06 | 03/18/06 | Y/Y | 2005 | 2004 | 2003 |
---|---|---|---|---|---|---|
Initial Claims | 302 | 312 | -14.2% | 332 | 343 | 402 |
Continuing Claims | -- | 2,483 | -4.4% | 2,663 | 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.