Global| Dec 29 2005Initial Claims for Jobless Insurance Inched Up
by:Tom Moeller
|in:Economy in Brief
Summary
Initial claims for unemployment insurance fell 3,000 to 322,000 last week following a little revised 12,000 decline the prior week. Consensus expectations had been for 325,000 claims. During the last ten year there has been a [...]
Initial claims for unemployment insurance fell 3,000 to 322,000 last week following a little revised 12,000 decline the prior week. Consensus expectations had been for 325,000 claims.
During the last ten year 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 was little changed at 325,000 (-1.7% y/y).
Continuing unemployment insurance claims increased a sharp 85,000 following a 36,000 rise the prior week which was little different than initially reported.
The insured rate of unemployment remained at 2.1%.
International Capital Flows and U.S. Interest Rates from the Federal Reserve Board is available here.
| Unemployment Insurance (000s) | 12/24/05 | 12/17/05 | Y/Y | 2004 | 2003 | 2002 |
|---|---|---|---|---|---|---|
| Initial Claims | 322 | 319 | -0.6% | 343 | 402 | 404 |
| Continuing Claims | -- | 2,715 | -1.2% | 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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