Global| May 02 2002Initial Jobless Insurance Claims Fell
by:Tom Moeller
|in:Economy in Brief
Summary
Initial claims for unemployment insurance fell less than expected in the latest week. The prior week's level was revised up slightly. The latest figure continues to reflect a small number of filings for extended benefits. Continuing [...]
Initial claims for unemployment insurance fell less than expected in the latest week. The prior week's level was revised up slightly. The latest figure continues to reflect a small number of filings for extended benefits.
Continuing claims for unemployment insurance rose, reflecting firms' hesitancy to hire, after rising the week prior which was revised down.
The four-week moving average of claims fell to 425,750.
The insured rate of unemployment was unchanged at 2.9%.
| Unemployment Insurance (000s) | 04/27/02 | 04/20/02 | Y/Y | 2001 | 2000 | 1999 |
|---|---|---|---|---|---|---|
| Initial Claims | 418.0 | 428.0 | 2.0% | 405.8 | 299.8 | 297.7 |
| Continuing Claims | -- | 3,775 | 36.3% | 3,021 | 2,114 | 2,186 |
by Tom Moeller May 2, 2002
Manufacturing inventories fell for the fourteenth consecutive month in March. February decumulation was revised slightly deeper. In percentage terms, the recent inventory correction by far sets a record.
Inventory decumulation continued strong across industries. Only inventories of furniture & related products were unchanged and miscellaneous durable goods rose for the second month.
Shipments rose 0.7% (-6.3% y/y), the fourth gain in six months.
Durable goods orders were little revised, down 0.5%.
| Inventories | Mar | Feb | Y/Y | 2001 | 2000 | 1999 |
|---|---|---|---|---|---|---|
| Mfg Inventories | -0.6% | -0.5% | -8.6% | -7.5% | 4.3% | 2.2% |
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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