Thursday, July 28, 2005

Jobless Claims Remain Low

- Initial Jobless Claims for last week rose to 310K versus estimates of 318K and 305K the prior week.
- Continuing Claims rose to 2603K versus estimates of 2591K and 2571K prior.
- The Help Wanted Index for June rose to 38 versus estimates of 38 and a reading of 37 in May.

BOTTOM LINE: The number of Americans filing first-time claims for unemployment rose to 310,000, suggesting employers are adding workers as manufacturing rebounds and retail remains strong. The four-week moving-average of claims fell to 318,250 from 318,500. The insured unemployment rate, which tracks the US jobless rate, stayed at 2.0%. Payroll gains have averaged 181,330 this year versus 183,000 for all of 2004.

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