Global| Oct 13 2005Initial Jobless Insurance Claims Slipped
by:Tom Moeller
|in:Economy in Brief
Summary
Initial filings for unemployment insurance fell to 389,000 last week versus an upwardly revised 391,000 the prior period. Consensus expectations had been for 370,000 claims. The Labor Department indicated that last week 75,000 initial [...]
Initial filings for unemployment insurance fell to 389,000 last week versus an upwardly revised 391,000 the prior period. Consensus expectations had been for 370,000 claims.
The Labor Department indicated that last week 75,000 initial claims were linked to Hurricanes Katrina & Rita and totaled 438,000 during September.
The four-week moving average of initial claims fell slightly to 395,750 (13.8% y/y) from 388,750 during the prior four weeks.
Continuing claims for unemployment insurance slipped 5,000 following a downwardly revised 91,000 increase during the prior week.
The insured rate of unemployment also slipped to 2.2% from 2.3% the week prior. The low in early September was 2.0%.
| Unemployment Insurance (000s) | 10/08/05 | 10/01/05 | Y/Y | 2004 | 2003 | 2002 |
|---|---|---|---|---|---|---|
| Initial Claims | 389 | 391 | 13.1% | 343 | 402 | 404 |
| Hurricane Related Claims (000, NSA) | 75 | 74 | ||||
| Continuing Claims | -- | 2,905 | 2.1% | 2,926 | 3,531 | 3,570 |
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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