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ECON: Jobless Claims Higher Than Expected
Posted to: Micro News
Thursday, January 31, 2013 8:42 AM
- Claims 368k vs 350k Consensus, 330k previously
- Continued Claims 3.197 million vs 3.176 consensus
- Markets were expecting a higher number, and though it was even higher than expected, seasonal adjustments played a big role and make the miss easier to shrug off.
In the week ending January 26, the advance figure for seasonally adjusted initial claims was 368,000, an increase of 38,000 from the previous week's unrevised figure of 330,000. The 4-week moving average was 352,000, an increase of 250 from the previous week's unrevised average of 351,750.
The advance seasonally adjusted insured unemployment rate was 2.5 percent for the week ending January 19, unchanged from the prior week's unrevised rate. The advance number for seasonally adjusted insured unemployment during the week ending January 19 was 3,197,000, an increase of 22,000 from the preceding week's revised level of 3,175,000. The 4-week moving average was 3,192,250, a decrease of 9,750 from the preceding week's revised average of 3,202,000.
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