Global| Dec 01 2005Initial Claims for Jobless Insurance Higher
by:Tom Moeller
|in:Economy in Brief
Summary
Initial claims for jobless insurance reversed about half of the prior week's rise and fell 17,000 to 320,000 during Thanksgiving week. Consensus expectations had been for 323,000 claims. Hurricane related claims dropped back to 10,000 [...]
Initial claims for jobless insurance reversed about half of the prior week's rise and fell 17,000 to 320,000 during Thanksgiving week. Consensus expectations had been for 323,000 claims.
Hurricane related claims dropped back to 10,000 and brought the total of the three storms during the last thirteen weeks to 592,000.
The four-week moving average of initial claims fell slightly to 322,500 (-3.5% y/y).
Continuing claims for unemployment insurance fell 24,000 following a downwardly revised 26,000 gain the prior week.
The insured rate of unemployment held at 2.2% for the tenth consecutive week.
| Unemployment Insurance (000s) | 11/26/05 | 11/19/05 | Y/Y | 2004 | 2003 | 2002 |
|---|---|---|---|---|---|---|
| Initial Claims | 320 | 337 | -7.5% | 343 | 402 | 404 |
| Continuing Claims | -- | 2,767 | 1.1% | 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.
