Global| Dec 08 2005Initial Unemployment Insurance Claims Up Modestly
by:Tom Moeller
|in:Economy in Brief
Summary
Initial claims for unemployment insurance rose 6,000 to 327,000 last week following a revised 16,000 drop the prior week. Consensus expectations had been for 315,000 claims. Hurricane related claims dropped to 8,000 and brought the [...]
Initial claims for unemployment insurance rose 6,000 to 327,000 last week following a revised 16,000 drop the prior week. Consensus expectations had been for 315,000 claims.
Hurricane related claims dropped to 8,000 and brought the total of the three storms during the last fourteen weeks to 600,000.
The four-week moving average of initial claims was about unchanged at 322,500 (-4.8% y/y).
Continuing unemployment insurance claims fell 137,000 following a 57,000 decline the prior week which was deeper than initially reported.
The insured rate of unemployment fell to 2.0% from a downwardly revised 2.1% the prior week.
Monetary Policy with Imperfect Knowledge, a working paper from economists at the Federal Reserve board, is available here.
Can Financial Innovation Help to Explain the Reduced Volatility of Economic Activity? is another working paper published by the Federal Reserve Board and can be found here.
| Unemployment Insurance (000s) | 12/03/05 | 11/26/05 | Y/Y | 2004 | 2003 | 2002 |
|---|---|---|---|---|---|---|
| Initial Claims | 327 | 321 | -6.3% | 343 | 402 | 404 |
| Continuing Claims | -- | 2,603 | -5.9% | 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.
